A political decision about new taxes is lacking.

This information was announced in the Government of the Russian Federation.

04.Aug.14 7:28 PM
By Ube Salorainen
Photo justmedia.ru

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A political decision about new taxes is lacking.

Deputy Prime Minister Dmitriy Kozak said that currently in Russia there is no political decision about tax levies, and most likely they will not be introduced.

The official mentioned that all governments would like to have the funds for different purposes – to cover budget deficits, the execution of orders or financing activities. However, decisions should be made basing on the current state of the economy, where the tax levy can result in stopping the growth of the economy or even a recession.

Earlier it was reported that the ministers are considering various options to increase the tax burden. There were proposals to permit regions to introduce sales tax up to 3 %, to increase the VAT rate to 20 % or cancel the preferential rates of this tax, personal income tax up to 15 %. The government commented on the measures that the economy has come to the moment when it is essential to make unpopular but necessary measures - revenues from the sale of oil and gas resources up to the year 2030 will be reduced, while the remaining income will be at the same level.

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