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    DEPUTY HEAD OF RUSSIAN MINISTRY OF ECONOMIC DEVELOPMENT STANDS FOR LOWERING UNIFIED SOCIAL TAX

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    MOSCOW, January 21 (RIA Novosti) - Deputy head of the Russian Ministry of Economic Development and Trade Arkady Dvorkovich said that the lowering of the unified social tax (UST) is the most important measure in the tax reform.

    Speaking on Wednesday at the round-table conference on the theme: "How Russian Corporations Pay Taxes," he said that the lowering of the UST was more important than the lowering of the value added tax (VAT) and the profits tax.

    Arkady Dvorkovich pointed out that the mechanism for lowering the UST has not yet been worked out. "The discussion on this score continues," the deputy minister said.

    He also noted that simultaneously with lowering the VAT, the UST and the profits tax, it is necessary to raise the tax burden on the raw materials sector, as a compensation measure, when the oil price tops 25 dollars per barrel. The figures of the possible withdrawal from the raw materials sector differ quite a lot, noted Dvorkovich. However, on an average, they may amount to 1.5 - 2 billion dollars, with the oil prices amounting to 25-27 dollars per barrel.

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