Government discusses changes in tax system
22.03.2018 2952

Government discusses changes in tax system

At a meeting with Prime Minister Dmitry Medvedev, the increase in personal income tax to 15%, the introduction of a sales tax, the abolition of VAT benefits and the increase in VAT while reducing insurance premiums were discussed.

To increase some budget expenditures, the Government is discussing changes in the tax system. One suggestion is to increase personal income tax to 15%.

The Ministry of Finance suggests reducing insurance premiums to 22%, but raising VAT to 22%. It also discusses the introduction of a trade tax on sales and the abolition of preferential VAT for social goods. A trade charge may be introduced instead of increasing VAT while reducing premiums. This will help the business out of the shadows, the Finance Ministry said.

Various measures are being discussed in the government, but all of them are just proposals, said Prime Minister’s spokeswoman Natalya Timakova, decisions will be made later.

At a meeting with Prime Minister Dmitry Medvedev, an increase in personal income tax to 15%, the introduction of a sales tax, the abolition of VAT benefits and an increase in VAT with a decrease in insurance were discussed ...
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