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Tax burden in 2003 to amount to 30.7% of GDP - Finance
Ministry
MOSCOW. Dec 10 (Interfax) - The tax burden in Russia will amount to 30.7% of GDP in 2003, Deputy Finance Minister Sergei Shatalov told a Tuesday conference in Moscow.
"The tax burden is shrinking. Recently it amounted to 34% of GDP, and in 2003, the figure will go down to 30.7%," he said.
Shatalov indicated that the effective rate of the single social tax is declining. In 2001, it stood at 31.5%, and at the end of 2002 will be around 29-30%.
He described the reduction of the social tax as a very important task and said the government is planning such a reduction. Two possibilities are being considered: cut the basic rate to 30%, or limit its application without changing the basic rate.
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