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Tax increase will result in low economic development in Russia

This is opinion was shared by ex-Minister of Finance Alexey Kudrin.

24.Jul.14 8:30 AM
By Mihail Prygunov


Tax increase will result in low economic development in Russia
The government has already discussed the possibility of increase tax rate not so long ago. This included Vat and sales tax. The main idea is to fulfill budgets of different Russian regions. However ex-Minister of Finance Alexey Kudrin is not so positive about such plans. He shared this opinion in his last interview. Kudrin says that sales tax increase will eventually lead to low economic development. At the same time minor tax increase will make it possible to shift the burden on the population.

Kudrin has also noted that Russian economy is in stagnation phase at the moment. In other words business is not ready for big tax increases which will inevitable result in economy development decrease. He also said that he is against regressive tax rate as well as increase of rate on excise duty. The main goal for the government is to lower budget costs and make them as effective as possible. Kudrin is sure that it is also necessary to change already existing system and shift the burden on individuals. Anyway the scale should not be regressive.

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