MOSCOW, Feb 5 (PRIME) -- The Finance Ministry has not yet dropped the idea to abolish or minimize personal property tax, Deputy Minister Ilya Trunin said on Monday.
“Is the tax on personal property a good instrument or not? Not really… We have not dropped the idea to lift this tax or minimize it,” he said, adding that most countries with a well-developed taxation system tend to exclude personal property from the list of taxable items.
“We have been trying to abolish it in various ways. However, we have failed so far due to the federative structure of the state. We need to provide a certain level of funding to regional budgets.”
All Russia’s regions had the right to lift the tax until 2018, but none of them did.
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