The Federation Council approved the law on raising the volume of advertising in print media

Совфед одобрил закон об увлечении объема рекламы в печатных СМИ

Senators on Tuesday approved amendments to the Tax code of the Russian Federation that increase the permissible amount of advertising in print media, not specializing in communications advertising from 40 to 45% of the volume of one issue.

The increase of advertisements in periodicals to 45% will help to support entrepreneurs of small and medium-sized businesses and will not lead to a significant reduction in tax revenues due to the tax relief regime for the media, lawmakers consider.

“The proposed bill increasing the volume of advertising in printed media will not prejudice the interests of the society, especially its most vulnerable members,” reads the explanatory documents. The law should enter into force on 1 January 2017.

The parliamentarians approved the amendments to the Tax code, according to which for the new volume of commercial publications will remain the same VAT rate is 10%.