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Russian Finance Ministry Proposes Sales Tax Abolition

by Tatiana Smolenskaya, Tax-News.com, Moscow

27 November 2002


The Russian Finance Ministry has proposed the abolition of the country's sales tax from 2004, and a reduction of the single social tax rate by 5% from 2005, according to first deputy Finance Minister, Sergei Shatalov.

Speaking to reporters, Mr Shatalov announced that the proposals will likely be discussed at a meeting of the Russian government on December 5 when the progress of tax reforms so far implemented in Russia will also be examined, and goals and tasks for the future will be assigned.

The Finance Ministry has also advised the government not to consider reducing the VAT rate until at least 2005, according to reports in the national media this week.


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