Russian Prime Minister, Mikhail Kasyanov has hinted at the possibility of tax cuts after next year's peak foreign debt payments are made, according to reports.
Speaking as the government discussed the draft budget for 2003, Mr Kasyanov explained that:
'Achieving a budget surplus is not an aim in itself but a necessity for a certain period of economic development. Next year is a peak one (for debt repayments). As soon as we get past this stage, we can stop redistributing revenues and cut the tax burden to give the private sector the chance to finance spending previously covered by the state.'
Having received formal approval at a cabinet meeting last week, the draft finance bill must now be submitted to parliament for approval before August 26.
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment