04 June 2004 19:49
Govt. to lower VAT 2-3% in 2006 - Zhukov
MOSCOW. June 4 (Interfax) - The government intends to introduce a flat VAT rate in 2006, lowering the tax at least
2%-3%, Deputy Prime Minister Alexander Zhukov said at the Corporate Governance and Economic Growth in Russia
conference.
VAT was reduced from 20% to 18% on January 1 this year. Russia also has a discount VAT rate of 10%.
Although VAT is now 18%, discounts do exist: some taxpayers don't pay VAT at all and others pay at the reduced
rate of 10%, Zhukov said.
"The government thinks a flat VAT rate will be introduced from 2006," he said. "Right now it is hard
to say what that rate will be, but it will be reduced by at least 2%-3%," he said. [RU ASIA EUROPE EEU EMRG FIN]
pr
[Interfax] |
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