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The State Duma Committee for the Budget and Taxes approved the amendment
of the deputies of the YABLOKO faction of the Duma Igor Artemyev, Sergei Ivanenko and Mikhail Zadornov into Chapter
"Simplified Taxation System" of the Second Part of the Tax Code of the
RF. Press-Service of YABLOKO informed Rosbalt that in accordance with
this amendment, small-scale businesses that switched to the simplified
taxation system and function in accordance with the principle "profits
reduced by size of expenditures" will be able to register the costs of
goods purchased for further resale asexpenditures. Consequently, this
reduces their total taxable income.
One of the authors of the draft law, deputy of the State Duma Igor
Artemyev explained to our correspondent that "this is a key provision
for those entrepreneurs who work in accordance with the simplified
scheme: without this provision the whole simplified taxation system will
be senseless for the overwhelming majority of small-scale trading
enterprises." Artemyev hopes that the State Duma will support this
amendment to the Tax Code, thereby reducing the tax burden for small businesses.
See also:
Tax Legislation
Development of Small Businesses
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