Tax exactions to be increased
Federal revenue service suggested to government new source of supplementing state budget. The administration triggered new reverse tax introduction. It is supposed to impose 0,5% taxes on every funds transferring operation from accounts of juridical persons and individual entrepreneurs carried out in order to pay for goods or services.

Federal revenue service suggested to government new source of supplementing state budget. The administration triggered new reverse tax introduction. It is supposed to impose 0,5% taxes on every funds transferring operation from accounts of juridical persons and individual entrepreneurs carried out in order to pay for goods or services.
Revenue service considers the tax should be introduced during the crunch. It will fill state treasury with several trillions of rubles. Taxmen suggest abolishing quick VAT compensation, introducing specific registration of taxpayers, common deadline of tax collection, fines within 3 years and get access to bank secrecy.
Entrepreneurs were alarmed by the possibility of these measures introducing. According to Alexander Shohin, president at Union of Industrialists and Entrepreneurs, enlargement of tax burden on business is contradicting aims of stabilization and economics development. He stressed, reflation as one of the central aims of government apparently contradicts with fiscal measures.
Artem Krasnov
Yuliya Golisheva, analyst at investment company Finam, says revenue service has an intention to increase tax income in order to compensate drastically declining budget income. "Introduction of tax on financial operations cancels out the assumed earlier government’s measures on lessening income tax from 24% to 20%. Considering the current crisis situation this will cause extremely negative consequences for business".
"Possibilty of this tax introduction is nonetheless low, - presupposes Olesya Vyugina, consultant of investment holding Soteks. Our country faces socially tense atmosphere and deputies will hardly ammend the tax laws. It is known Ministry of Finance and the Ministry of Economic Development and Trade are to go to bat for entrepreneurs".
Besides Federal revenue services’ new tax introduction, deputies suggest a new tax on luxury to be introduced. It is not known yet what part of income should wealthy citizens allocate. Rate on Personal income tax will be lessened for citizens with low income. It will be differentiated depending on citizens’ income rate.