In response to a request from Russian Prime Minister Vladimir Putin, the Russian Federal Tax Service has proposed changes to tax administration that, if put into practice, could boost government revenues by up to RUB1.3tn (USD38bn).
The tax service proposes a 0.5% emergency corporate duty on payments made via a bank account. They also propose to extend the time limit for pursuing unpaid taxes to three years, and delaying refunds of value-added tax. The measures could mean extra revenues of over RUB900bn for the federal budget and RUB400bn for local government.
The Economic Development Ministry played down the proposal and said they would submit their own proposals shortly.
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