Russia tax code to see major changes in 2000

Aug 13, 1999 02:00 AM

Deputy Tax Minister Mikhail Motorin said 2000 will witness major changes in Russia's tax legislation. The part of the Tax Code dealing with the profit tax and, probably, the value-added tax will hopefully be adopted in 2000, Motorin said, adding that the road tax is likely to be 1 % lower.
"These changes have been written into the 2000 draft budget," he said. The government also intends to cancel the fuel tax, and increase the gasoline excise and introduce an oil-and-diesel excise instead.
Several taxes will be abolished due to the introduction of the sales tax which will span all Russia by 2000, according to him.

Source: Itar-Tass via Newspage
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