The Tax Inspectorate will stop initiating bankruptcy procedures from March 9.

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The Tax Service plans to focus its work on deferral and debt restructuring. In previous periods, debtors were provided with tax installments in the amount of 115 billion rubles.

The head of the tax service has decided to temporarily suspend the filing of applications for bankruptcy of debtors. Thus, the tax authorities intend to reduce the risks of bankruptcy due to foreign sanctions.

The Tax Inspectorate called its new task assistance in the restructuring of tax debts. For this purpose, it is planned to apply installments and settlement agreements. These solutions are aimed at keeping the business running.

The Tax Service does not specify how long the refusal to initiate bankruptcy cases of debtors will last.

The Government of the Russian Federation has already announced plans to introduce a new moratorium on bankruptcy, but the details of this measure and the timing of its introduction remain unknown.

During the coronavirus pandemic of 2020-2021, the tax authorities provided installments for the payment of taxes to more than 5,000 taxpayers totaling more than 115 billion rubles.

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