Source Pravda.Ru

Profit Tax Reduction To Ease Tax Burden By 2% Of GDP

The reduction in the profit tax rate from 35% to 24% beginning January 1, 2002 will decrease the general tax burden by 2% of the GDP, Russian Deputy Finance Minister Alexei Petrov said at the international investment symposium 'The Investment Potential of the South of Russia' today. He pointed out that the reduction in the tax burden would be due not only to the decrease in the tax rate, but also to the introduction of the normal international procedure for calculation of the taxable amount. The new Tax Code chapter on the profit tax lifts all restrictions on deduction of business expenditures related to deriving profits from the taxable amount. Additionally, the Tax Code provides for a more flexible mechanism for amortization of assets for taxation purposes to boost large-scale investments, the deputy minister believes. According to him, as a result of the implementation of a number of tax initiatives at the beginning of 2001, the tax burden reduced by 2% of the GDP this year too.

Presidential candidate Ksenia Sobchak, who was accredited for the press conference by Vladimir Putin from Dozhd (Rain) television channel, asked Putin about competition at the coming election

Putin to Sobchak: We will never let them turn Russia into another Ukraine
Comments
Saudi Arabia readies to enjoy cinemas and music for the first time in 40 years
Socialite Ksenia Sobchak runs for Russian President
Putin to Sobchak: We will never let them turn Russia into another Ukraine
Kim Jong-un's tactic of hard power teaches USA lesson of obedience
Putin to Sobchak: We will never let them turn Russia into another Ukraine
Putin to Sobchak: We will never let them turn Russia into another Ukraine
Putin to Sobchak: We will never let them turn Russia into another Ukraine
Donbass without militia will be worse than Srebrenica - Putin
Capitalism reduced Indonesian cities to infested carcases
ISIS threatens to conduct large-scale terrorist attacks in USA for Jerusalem decision
Tel Aviv, Jerusalem, capitals and puppets
ISIS threatens to conduct large-scale terrorist attacks in USA for Jerusalem decision
The Myth of the Gene: Genetics, Epigenetics and the Organism-Environment Loop
The Myth of the Gene: Genetics, Epigenetics and the Organism-Environment Loop
The Myth of the Gene: Genetics, Epigenetics and the Organism-Environment Loop
Russian politician says Donald Trump extremely dangerous for Russia
North Korea says Trump makes first step towards nuclear war
Capitalism reduced Indonesian cities to infested carcases
Capitalism reduced Indonesian cities to infested carcases
Capitalism reduced Indonesian cities to infested carcases
Should Russian athletes go to non-Olympic Games in South Korea?