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Putin Orders Government to Cut Single Social Tax
Russian President Vladimir Putin on Wednesday ordered the government to reduce the single social tax as soon as possible.
The level of wage at which the tax becomes regressive will be reduced from 50,000 rubles to 30,000 rubles per employee a year, presidential spokesman Alexei Gordeyev said.
This issue dominated Putin's Wednesday discussion with Development and Trade Minister German Gref, Tax Minister Gennady Bukayev and Labor Minister Alexander Pochinok.
Gref expressed the belief that the implementation of the president's order will allow 50 to 80 percent of enterprises "move out of shadow" and start paying the tax in full, Gordeyev said.
The minister noted that an appropriate amendment may be submitted to the Duma in May, and its adoption in all three readings at once would make it effective in the second half of this year.
Another important issue discussed at the meeting was the restructuring of enterprises' debts, which Putin said should be done as soon as possible not only with regard to debts to tax authorities but also to overdue payments to customs, the government and off-budget funds.
The Kremlin believes these measures tally with the general tendency towards reducing tax pressure on manufacturers, which should allow enterprises to clear their debts quickly, the presidential spokesman said.
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