Source Pravda.Ru

Finance Ministry's official on VAT cuts

In 2006, the VAT may be cut to 15 percent in Russia, Russian Senior Deputy Finance Minister Sergey Shatalov told reporters today. He reiterated that the tax reforms proposed by the Russian government envisaged, among other things, a reducing in the VAT to 18 percent in 2004 and, under favorable circumstances , to 16 percent in 2006. "If the economy enables us to lower the VAT to 15 percent, this will be fine", Shatalov emphasized.

The Senior Deputy Finance Minister also claimed that a bill on reforming the Single Social Tax submitted by Duma deputies would cause losses in the Russian budget of at least RUR270bn (nearly $8.85bn). Meanwhile, the adoption of the bill is expected to attract up to RUR35bn ($1.15bn) to the budget due to the legalization of wages and salaries.

Comments
Putin addresses social issues, threatens USA with Russia's new missiles in his 15th Federal Assembly speech
Putin addresses social issues, threatens USA with Russia's new missiles in his 15th Federal Assembly speech
Christchurch aftermath: Invaders complain of invaders
Christchurch aftermath: Invaders complain of invaders
The Recolonization of Latin America and the War on Venezuela
New Zealand: Global idiocy reaches down under
Christchurch aftermath: Invaders complain of invaders
Christchurch aftermath: Invaders complain of invaders
Trump's Dystopian Budget Proposal
Massacres of Muslim Worshipers in Christchurch: Tragic Insanity at Place of Worship
Massacres of Muslim Worshipers in Christchurch: Tragic Insanity at Place of Worship
Massacres of Muslim Worshipers in Christchurch: Tragic Insanity at Place of Worship
Massacres of Muslim Worshipers in Christchurch: Tragic Insanity at Place of Worship
Ukrainian musicians refuse to represent Ukraine at Eurovision 2019 one after another
Russian entrepreneur Emil Gainulin defrauded state’s budget for billions of rubles
Massacres of Muslim Worshipers in Christchurch: Tragic Insanity at Place of Worship
Massacres of Muslim Worshipers in Christchurch: Tragic Insanity at Place of Worship
Putin: The world underestimates danger of nuclear war
Putin: The world underestimates danger of nuclear war
Putin addresses social issues, threatens USA with Russia's new missiles in his 15th Federal Assembly speech
Putin addresses social issues, threatens USA with Russia's new missiles in his 15th Federal Assembly speech