Arab Today, arab today sales tax in russia to speed up inflation
Last Updated : GMT 03:52:24
Arab Today, arab today
Arab Today, arab today

Sales tax in Russia to speed up inflation

Arab Today, arab today

Arab Today, arab today Sales tax in Russia to speed up inflation

Sales tax in Russia
Vienna - Itar-Tass

Introduction of sales tax in all Russian regions will speed inflation up by 2.1%, according to Sberbank Centre for Marcoeconomic Research.
This is the maximal possible immediate jump, according to Sberbank expert estimates.
The tax would also cause a maximal 1% retail sales reduction, which should drop gross domestic product 0.5 p. p.
“A new turnover tax will cause the highest costs for the county’s economic development because of limited consumer demand and sharper price jump than in other scenarios,” Sberbank experts warn.
By Sberbank estimates, with a 3% tax rate, tax revenue of regional budgets will be 380 billion roubles ($13,566). The maximal tax will be collected in Moscow greatly surpassing the rest of the leaders - Moscow Region, St. Petersburg, Sverdlovsk Region and Krasnodar Territory. Revenue will vary depending on the level of retail networks in each particular region.
Sales tax was also high undesirable for some legal reasons, the experts added. In particular, the Constitutional Court ruled simultaneous levying of VAT and sales tax unconstitutional.
Another government initiative, increasing VAT rate from 18 to 20% “will inevitably lay additional tax burden on the final customer” and lead to a one-off price jump by a maximum of 1.7% A milder price increase is possible if the tax is partly paid from manufacturers’ or sellers’ margin, which is “highly probable amid the falling consumer demand”.
Price growth will negatively affect retail sales that are estimated to contract by a maximum of 0.8%, which is equivalent to a GDP decline by 0.3-0.4 p.p., Sberbank experts.
The government plans to settle the sales tax issue were voiced in early July by Finance Minister Anton Siluanov in an interview to Rossiay-24 TV channel.
“Sales tax is one of the options under consideration aimed to expand income basis of the regional budgets,” the Minister said. “This is a regional tax.” A total of 200 billion roubles ($7,140) that can be thus collected at a 3% rate was an important amount for the regions but the discussion was yet to be completed, he added.
Sales tax is an indirect tax included in the price.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today sales tax in russia to speed up inflation Arab Today, arab today sales tax in russia to speed up inflation

 



Arab Today, arab today
Arab Today, arab today Fadi Kataya explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Mental conflict endures

GMT 07:36 2017 Friday ,24 February

Mental conflict endures
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Wafaa Amer is happy for Sherihan’s return

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday