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    RUSSIAN MINISTER: VAT CAN BE REDUCED TO 13%

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    MOSCOW, January 21 (RIA Novosti) - German Gref, Russian Minister of Economic Development and Trade, believes the rate of the VAT could be reduced to 13%, the minister told a press conference while commenting on possible introduction in Russia of VAT-accounts. The economic development and trade ministry is against the introduction of special accounts where funds to pay the VAT with will be reserved.

    If the system of special accounts is accompanied by a significant reduction of the tax rate, this system may be introduced. If there is no such reduction, we will defend our positions till the end, Gref said.

    The VAT rate was reduced from 20% to 18% from January 1, 2004.

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