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Russian Government to Lower Tax Obligations for Regional Companies
28.01.2015 18:59
Russian Government to Lower Tax Obligations for Regional Companies

Russian government plans to institute a number of measures for lowering tax burden for small and medium-sized businesses in the regions, Russian Minister of Finance Anton Siluanov said.

      "Russian regions will receive considerable rights for abatement of taxes for small businesses, in addition to those that already exist. The government will allow federal subjects to make such decisions on their own", the minister added.

      According to Siluanov, some changes will be made in interbudget transfers to Russian regions. The concept of "tax potential" will be set free from "current incomes received by regions and municipalities from small business's taxation".

      The minister also reminded of "tax holidays" made by Russian officials for private entrepreneurs. "The 'holidays' currently apply to two fields - production and social services. We want to add another one - personal services", Siluanov said.

      In accordance with an anti-crisis plan published on January 28, Russian government intends to simplify a procedure of a business's recognition as small or medium-sized.

      Another measures include reduction of checkings by the Federal Antimonopoly Service, tax burden weakening and 'tax holidays'.

Author: Julia Alieva

Tags: crisis in Russia Russian business Ministry of Finance   

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