The state Duma adopted in the third (final) reading of the law on the reduction of the size of the state duty payable when filing the application on bankruptcy of physical persons, up to 300 rubles, reports TASS.

The adopted law envisages a reduction of fees paid to a physical person when applying for recognition of its bankruptcy.

At the moment, and for physical, and for legal entities the fee is six thousand rubles. For legal entities the size of the paid fees will not change.

The law will amend article 333 part 2 of the Tax code of the Russian Federation. Adopted by the deputies of the state Duma, the rule should enter into force on 1 January 2017, but not earlier than upon expiry of one month from the day of official publication of the law. This legislative initiative was submitted to the Duma on 20 September 2016 by the government of the Russian Federation.

We will remind, the law that bankruptcy has become accessible not only for companies but also for ordinary citizens, entered into force on 1 October 2015. An application to the court may apply both the debtor and its creditors.

Last year, some officials predicted up to 200 thousand of bankruptcies of natural persons in the year, but as it turned out, from October 2015 to June 2016, with lawsuits in the court turned about 3% of the potential total number of borrowers bankrupt, or about 23.3 thousand citizens. Almost 5.6 thousand cases were started according to the statements of the creditor banks.

According to experts, Russians do not actively use the Institute of bankruptcy of physical persons from-for high costs of accessing justice and the lack of awareness about the provisions of the act.

At the end of September this year the working group of the Russian Union of arbitration managers (ORAU) and the Union of self-regulatory organizations proposed a simplified procedure of bankruptcy of citizens.

It is designed for ordinary borrowers on consumer loans unrelated to the business, whose debts do not exceed 1 million roubles, the valuation of property – 500 thousand rubles salary and three minimum subsistence level. Such debtors will be able to count on expedited review of the case and, perhaps, exemption from the payment of remuneration to the bankruptcy Trustee in charge of bankruptcy proceedings or a noticeable reduction in cost.

Adopted a law reducing to 20 times the fees for individuals in bankruptcy 18.11.2016

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