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First Results of Tax Crimes “Decriminalization” of Tax Offences
25 march 2010
On March 23, 2010 a round table devoted to the issues of increase in the efficiency of control and taxpayer’s right protection was organized in the Federation Council.
Transfer to Surplus Income Tax in Oil and Gas Sector in Russia
24 march 2010
Introduction of new tax- tax on additional (surplus) income – for the enterprises of oil and gas sector in Russia has been planned for more than 10 years. However the date for transfer is postponed again and again.
Experts on Social Policy
23 march 2010
On March, 18th public debates devoted to the social policy took place in Lomonosov Moscow State University. The meeting was organized by the Association of independent centers of economic analysis.
State Duma Adopts Law Concerning Procedure of VAT Zero Rate Application for International Transportation
22 march 2010
RF State Duma has adopted amendments to article 164 of the RF Tax Code eliminating the contradictions between the norms of subparagraph 9 paragraph 1 article 164 and paragraph 5 article 165 of the RF Tax Code.
Bank of Russia Announce Decrease of Credit Risks Limits for Crediting Organizations
19 march 2010
On March, 19 the Bank of Russia announced that starting with May, 1st the limits for credit risk, established for crediting organizations for blank credits provision will be lowered.
Dependence of Russian Budget from Raw Materials Export
19 march 2010
The dependence of the Russian budget from oil prices has strengthened incredibly: for the budget to be deficit-free in 2010 the oil should cost USD 105 per barrel (USD 62 per barrel in 2008, USD 99 per barrel in 2009). This is in sharp contrast with USD 20-40 per barrel planned in the budget of 2000-20061.
Federal Budget Program Part
18 march 2010
According to the data of the RF Ministry for Economic Development program part of federal budget expenditures for all Federal Target Programs and Federal Targeted Investment Programs financed in 2009 was at the level of 11.5%.
Package of Tax Privileges Will Cost RUR 250 Billion to Budget
17 march 2010
At one of the latest meetings of the RF Government when discussing the main direction for the tax policy in the middle-term, Prime Minister Vladimir Putin suggested exempting the commercial organizations operating in the field of education and health care from profit tax, which should have a positive effect on availability and quality of services in these spheres.
Alternative for Non-government Pension Funds: Saving Accounts
16 march 2010
On March 11, 2010 newspaper RBK-daily published an article reporting on the discussion about the possibility of formation of individual saving accounts which will be managed by broker and managing companies1. Such accounts, in the opinion of the Institute for Social Development (ISD) experts may serve as an alternative to non-government pension funds for the citizens and the operation of non-government pension funds will have more market nature.
New System for Citizens’ Preparation for Military Service
12 march 2010
Problems of pre-conscription training of the youth that are a matter of concern of conscripts-to-be and their parents have always been widely discussed in mass media, but lately the debates on the issues mentioned have made a new turn1.
On Mechanism of Old-age Pensions Valorization
09 march 2010
Starting with January 2010 the mechanism of pensions valorization envisaged by amendments made to the Federal Law "On old-age pensions" comes into effect. This mechanism was aimed at raising pensions not on equalizing terms, but taking into account the labor experience of each pension recipient individually.
Inflation Slowdown in Russia
05 march 2010
In February the inflation rate in Russia, measured with CPI, reached 0.9%.
Spring Conscription in Russia
04 march 2010
Recently, the Russian society was agitated with high-rank officers claims, for instance that by the General Staff Head N. Makarov on there being no reduction of conscription, it, on the contrary, growing up to the number, exceeding on average 350 thousand in each half of the year.
On Russian Labor Market in January-February 2010
02 march 2010
Starting with October 2009 the situation on the Russian labor market has been worsening. In January 2010 the unemployment (according to the International Labor Organization methodology) went up to 6.841 million of people as contrasted with 6.173 million of people in December 2009, the unemployment norm increasing up to 9.2% of the economic active population versus 8.2%.
World Trade Volume Drops by Record-Breaking 12% in 2009
25 february 2010
As compared with the previous year in 2009 the world trade volume dropped by 12%. Such a fall in the world trade turnover has been an extreme since 1945.
Bank of Russia announced new reduction of refinancing rate
19 february 2010
On February 19, 2010 the Bank of Russia has announced that starting with February 24 the refinancing rate is again reduced fr om 8.75% to 8.5% per annum.