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Single social tax unlikely to be cut
RBC, 05.04.2005, Moscow 16:17:01.Russian finance minister Alexey Kudrin considers it problematic to cut the single social tax rate, as he has told the Russian State Duma today. The Russian Finance Ministry is ready to make the next step paving the way for cutting the single social tax, he stressed. The basic rate is supposed to be eventually cut to 26 percent from the existing 35.6 percent. Revenue from the single social tax is the main source for forming the Pension Fund, the Fund of Compulsory Medical Insurance and the Fund of Social Insurance. If revenue from the single social tax is lower due to the decrease in its rate, then there will be lost budget profit in the near future.
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