. Speech of the Chairman of the “United Russia” party, the chairman of the Government of the Russian Federation Vladimir Putin at the opening of the Xth Gathering of the Party “United Russia” on November 20, 2008 (extracts) .....................

Abstract: The speech includes basic measures for the correction of the tax policy of the Russian Federation in the conditions of the financial crisis. These measures are meant to stimulate the development of economics. From 2009 on the order of calculation of the VAT on the advance payments should be optimized, the amortization award shall be enlarged, the tax on profits should be lowered by 4 per cent, and the tax on subsurface management should also be lowered, and the “tax vacations” should be included for the investigation of new deposits. It is offered to give enterprises a chance to pay tax on profit based on real profits, as received from the start of the year. In order to lower the fiscal pressure on small business, it’s offered that the regions should have the power to lower the simplified taxation rates. The sum of tax discount for the physical persons, who purchase or construct their own housing shall rise to 2 million rubles. There’s also a number of other measures aimed to optimize the tax pressure.