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    Russian President Vladimir Putin delivers the annual Presidential Address to the Federal Assembly

    Putin Suggests Four-Year Tax Freeze in Russia

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    Putin's Address to Federal Assembly 2014 (24)
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    The Russian President suggested to lock in the existing tax conditions for the next four years despite the current economic slowdown. He also proposed that small businesses that register for the first time should get a two-year tax exemption.

    MOSCOW, December 4 (Sputnik) — Russian President Vladimir Putin suggested Thursday to keep the existing taxes in Russia unchanged for the next four years.

    “I suggest to lock in the existing tax conditions for the next four years and not to get back to this issue. At the same time the decisions that have already been adopted regarding the tax burden easing should be implemented,” Vladimir Putin said during his annual state-of-the-nation address to the Federal Assembly.

    Russian President also suggested that small businesses that register for the first time should get a two-year tax exemption.

    Despite the current economic slowdown caused by decline in oil prices and geopolitical tensions, Russian authorities decided to keep tax burden stable for the time being. In September, Russian First Deputy Prime Minister Igor Shuvalov announced that the authorities will try not to raise personal income tax and value-added tax (VAT) until 2018.

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    Putin's Address to Federal Assembly 2014 (24)

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