Alexander Safonov

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Self-employed persons legalized in Russia

Self-employed persons legalized in Russia

Self-employed citizens switching to the experimental tax regime will be exempt from paying personal income tax and value added tax (VAT), except for the situation when goods are imported into Russia, according to the set of laws on the …

Russia's unemployment rate hits record low

Russia's unemployment rate hits record low

The official number of unemployed in Russia declined to 684.7 thousand people from August 8 to August 15, which became the minimum rate since the early 1990s, head of the Russian Ministry of Labor Maxim Topilin said. …

Will referendum on retirement age hike be held in Russia?

Will referendum on retirement age hike be held in Russia?

All-Russian referendum on raising the retirement age will be held if it is supported by citizens of the Russian Federation, the Central Elections Commission's secretary Maya Grishina said. Russian election …

Russia's pension reform to be adopted in first reading

Russia's pension reform to be adopted in first reading

Accounts Chamber of Russia has found several shortcomings in the government’s bill on raising the retirement age, while having no conceptual remarks to the document, according to the letter to the Chairman of the Duma Committee on …

Russians go bankrupt on massive scale

Russians go bankrupt on massive scale

In January-June 2018, 19053 citizens were declared bankrupt by Russian courts. This is 45% more than the same period in 2017, according to the reports of arbitration managers published on the Federal Reserve (the Federal Register on …

Russians owe banks 13.5 trillion rubles

Russians owe banks 13.5 trillion rubles

Russian total banking debt volume increased by 26% from the beginning of this year to 13.49 trillion rubles, according to the National Rating Agency (NRA). The agency said that in the period from January to May the banks' total …

No budget deficit in Russia

No budget deficit in Russia

Russia's State Duma has passed amendments to the law on 2018 federal budget and the planned period of 2019-2020 today. On June 7, the State Duma passed amendments to the law on 2018 federal budget and the planned period of 2019-2020 …

Russia's government raises retirement age and VAT

Russia's government raises retirement age and VAT

Russian Prime Minister Dmitry Medvedev said the retirement age and value-added tax (VAT) will be raised in Russia.  The PM said that the Russian government proposed to raise the retirement age to 65 for men …

Russia to earn 100 trillion rubles

Russia to earn 100 trillion rubles

Russia’s Economic Development Ministry revised its economic forecast. It was presented by Economy Minister Maxim Oreshkin at the State Duma meeting nu budget and taxes. Russia’s gross domestic product was …

Russia runs budget surplus

Russia runs budget surplus

The Russian government approved the draft amendment to the the bill on federal budget for 2018 and the planned period of 2019-2020. Information about this is published on the website of the Cabinet. "The draft law provides for …

Russia's new government starts saving small business

Russia's new government starts saving small business

After the release of Russian President Vladimir Putin's new May decree, the government will restart the support of small and medium-sized businesses. Russia's Ministry of Economic Development has already prepared its measures. It has …

Russia preparing trade response to US

Russia preparing trade response to US

Russia has started to consider measures to introduce retaliatory duties on the US, Russia's Deputy Minister of Industry and Trade Viktor Evtukhov said. Speaking about terms, the deputy minister said that it …

Debts in amount of 2.2 trillion rubles of Russians canceled

Debts in amount of 2.2 trillion rubles of Russians canceled

Russian bailiffs canceled physical persons' bad debts in the amount of about 2.2 trillion rubles to banks, the Izvestia newspaper reported with reference to Russia's Federal Bailiffs Service. In 2017, bailiffs were not able to …

Increase in revenues promised to Russians

Increase in revenues promised to Russians

The S&P international rating agency forecasts a gradual increase in real incomes of Russians, the agency said in a report. "The level of real disposable income and customer confidence may gradually increase in the long …

 Russia has paid 20% more taxes

Russia has paid 20% more taxes

Tax proceedings to Russia's consolidated budget increased by 20% in 2017, amounting to 17.3 trillion rubles, the head of the Russian Federal Tax Service, Mikhail Mishustin, said today. The increase in tax proceedings was …

Russia extends timeline for capital amnesty

Russia extends timeline for capital amnesty

Russia's State Duma has passed in third and final reading a package of bills extending the timeline for capital amnesty in Russia until February 28 of 2019. The bills are related to an initiative of Russian President …

Every Russian owe banks 86 thousand rubles on average

Every Russian owe banks 86 thousand rubles on average

Russians owe banks 12 trillion rubles, the United Credit Bureau said in a report. "Following the results of 2017, banks' total loan portfolio increased by 9% to 12.54 trillion rubles," the reports says. This …