Russia denies media claims of major tax reform Russia denies media claims of major tax reform

Russia denies media claims of major tax reform
06 Jun 2018

Russia's first deputy prime minister and finance minister Anton Siluanov has denied media claims that the government is discussing major tax reform.

These reforms are believed to include the introduction of a progressive income tax, higher insurance fund taxes on salaries and more indirect taxes.

But according to Meduza, Siluanov said there were no plans to change the country’s tax system over the next six years, although he warned there would be “adjustments”. He stressed the government’s need for stability, arguing that taxes were key to maintaining it.

As a result, Siluanov said the government was once again considering measures to simplify the tax code in order to encourage more businesses to stop operating in the economy’s “grey sector”, where profits and expenses are made under the table and off the books.

Prime minister Dmitry Medvedev has also signalled that the government proposes to raise the country’s retirement age in order to maintain the stability of the pension system.

 Emma Woollacott

Emma Woollacott is a freelance business journalist. Her work has appeared in a wide range of publications, including the Guardian, the Times, Forbes and the BBC.

Russia's first deputy prime minister and finance minister Anton Siluanov has denied media claims that the government is discussing major tax reform.

These reforms are believed to include the introduction of a progressive income tax, higher insurance fund taxes on salaries and more indirect taxes.

But according to Meduza, Siluanov said there were no plans to change the country’s tax system over the next six years, although he warned there would be “adjustments”. He stressed the government’s need for stability, arguing that taxes were key to maintaining it.

As a result, Siluanov said the government was once again considering measures to simplify the tax code in order to encourage more businesses to stop operating in the economy’s “grey sector”, where profits and expenses are made under the table and off the books.

Prime minister Dmitry Medvedev has also signalled that the government proposes to raise the country’s retirement age in order to maintain the stability of the pension system.

 Emma Woollacott

Emma Woollacott is a freelance business journalist. Her work has appeared in a wide range of publications, including the Guardian, the Times, Forbes and the BBC.

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