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Finance minister assesses profit tax cut effect
RBC, 20.11.2008, Moscow 14:30:58.The economic effect of the proposed decrease in profit tax by 4 percentage points has been estimated at RUB 400bn (approx. USD 14.6bn), Deputy Prime Minister and Finance Minister Alexei Kudrin told journalists today. Furthermore, an increase in accelerated depreciation rates from 10 to 30 percent is expected to enable companies to save more than RUB 100bn (approx. USD 3.64bn). Kudrin noted, however, that additional estimates had yet to be made.
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