Report: Russia has to slash small businesses’ tax burden-official

MOSCOW, Nov 26 (PRIME) -- The tax burden of the Russian small and medium-sized businesses should be reduced seriously, Valentina Matviyenko, speaker of the Federation Council, Russian parliament’s supreme chamber, said on Tuesday during a broadcast of Rossiya 24 television channel.

“It is not that I would make small and medium-sized businesses exempt from taxes completely, but I would like to reduce their tax burden significantly. It would give small and medium-sized business in Russia a chance to grow, and make the investment climate in our country even more attractive,” she said.

She also said that the government was discussing exempting families with low incomes from the personal income tax.

“The topic of exempting the low-income families from the personal income tax is under serious discussion in the media and in the government…We have to support that,” she said.

She also said that the Federation Council would support Prime Minister Dmitry Medvedev’s idea to exempt all compensatory payments from the personal income tax.

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