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Putin Wants To Further Reduce Tax Burden On Business

by Tatiana Smolenskaya, Tax-News.com, Moscow

21 February 2003

Speaking at a recent meeting of the Russian Union of Industrialists and Entrepreneurs, President Vladimir Putin reiterated the Russian government's commitment to reducing the tax burden on business, and pledged to aim for a rate of between 30% to 30.5% next year.

Looking back over the government's tax reform programme, President Putin observed:

'We'll yet have to see what has happened after such decisions in the past, but it is already clear there have been good results and weak points.' He went on to add that:

'We'll continue ridding our tax system of excessive bureaucracy.'

Speaking earlier this month with regard to the possible introduction of a further package of tax reduction measures, Prime Minister Mikhail Kasyanov revealed that the government's work over the past three years has reduced the country's overall tax burden by the equivalent of 3% of GNP.

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