Due to the impossibility of paying off VAT arrears this fall, about a quarter of shopping centers in Russia may cease operation, ”RBC writes with reference to the press service of the Russian Council of Shopping Centers (RSTC).
RSTC appealed to the Government with a request to postpone the deadlines for paying taxes for 2020 to 2021. The moratorium on collecting tax arrears expired on July 1. By the end of the month, owners of shopping centers must pay off all VAT arrears. RSTC said earlier that the industry as a whole does not have this money, the accounts of shopping centers can be blocked, and as a result, about a quarter of the shopping centers operating in Russia will close.
Oleg Voitsekhovsky, Managing Director of the RSTC, noted that payments that are currently received by shopping centers from tenants are about 10–20% of the previous year. This money is directed by the managers of shopping centers to maintain facilities in working order: security, cleaning, utilities, etc.
According to the RSTC, the shopping center industry accounts for more than 25% of the country's retail trade turnover.
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