Stavropol to retain simplified 5% tax rate for small businesses in 2011

The Stavropol authorities intend to maintain the simplified tax rate
for small businesses at 5% in 2011, Interfax reports.

According to the Finance Minister of the region, V. Shapovalov, 2011
will not be easy for business, but a shortfall in taxes should be
prevented, particularly in personal income tax. Since the new year the
UST has increased from 26.4% to 34.2%. “This is a load on the salary
which is paid by the producer, the employer. And in order not to let
this business go into the shadows and pay their wages in envelopes, we
need to be more loyal to it,” he added.

In addition, the Minister added that in 2011 the regional authorities
will retain the full amount of funds needed to sustain small and
medium-size businesses.