Russia to scrap tax payments in kopecks

According to amendments implemented in the Russian Tax Code on January 1, 2014, taxes will no longer be paid in kopecks, ITAR-TASS reports.Sums below 50 kopecks will be rounded up to 0 rubles and above 50 kopecks to 1 ruble. The Central Bank does not plan to stop using kopecks yet.Natalya Nikiforova, spokeswoman of Federal State Unitary Enterprise "Goznak", explained that the older generation was used to counting small change and was not ready to get rid of it. She added that a 1-kopeck coin was almost a national brand.

According to amendments implemented in the Russian Tax Code on January 1, 2014, taxes will no longer be paid in kopecks, ITAR-TASS reports.

Sums below 50 kopecks will be rounded up to 0 rubles and above 50 kopecks to 1 ruble. The Central Bank does not plan to stop using kopecks yet.

Natalya Nikiforova, spokeswoman of Federal State Unitary Enterprise "Goznak", explained that the older generation was used to counting small change and was not ready to get rid of it. She added that a 1-kopeck coin was almost a national brand.