Russia may cut tax burden on small business in 2012 - Kremlin aide

© RIA Novosti . Vladimir Fedorenko  / Go to the photo bankPresidential Economic Adviser Arkady Dvorkovich
Presidential Economic Adviser Arkady Dvorkovich - Sputnik International
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The Russian government may decide in the first half of this year to cut payroll taxes on small businesses and implement it from 2012, Presidential Economic Adviser Arkady Dvorkovich said on Tuesday.

The Russian government may decide in the first half of this year to cut payroll taxes on small businesses and implement it from 2012, Presidential Economic Adviser Arkady Dvorkovich said on Tuesday.

"The decision may be made in the first half of this year," Dvorkovich said when asked about cutting the tax burden for small business.

Russian small and mid-sized business still encounter a lot of financial and administrative hurdles, he said.

"Since this year, there has been an increase in payroll taxes and electricity charges, which creates real difficulties for them," he said.

The Russian government is also taking measures to boost financial support to small business, including the provision of funds by national development bank Vnesheconombank for small business microfinancing, he said.

 

MOSCOW, March 1 (RIA Novosti)

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