New businesses exempt from government verifications in first three years of operation

The laws pertaining to the planned verifications of small businesses and individual businesspeople have changed, said Russian Deputy Economic Development and Trade Minister Yuri Zhdanov in a press conference today.

He said that according to the amendments to the law on the protection of rights of small businesses and individual businesspeople during the conduct of government control, verifications will not be conducted in the first three years from the registration date of a business or individual business owner. According to the current law, verifications can occur once every two years.

Zhdanov said that the Economic Development and Trade Ministry intends to strongly control the application and execution of the new law the State Trade Inspectorate. He said that Russian President Vladimir Putin will sign the bill into law in the coming days.

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