Russia rolls out the tax carpet for entrepreneurs

[niseag]

President Vladimir Putin signed a law on Monday introducing two-year tax holidays for private entrepreneurs in Russian regions, TASS said. The measure, which was earlier approved by the parliament, is expected to support small business. Regional authorities will now have the right to offer two-year tax holidays for new private entrepreneurs who have chosen a simplified or patent taxation system.

[niseag]

and yes this one here, does not sound like anyone is in a panic:

Russia’s budget by 2017 needs to be balanced at the oil price of $70 per barrel, Finance Minister Anton Siluanov said Friday. “The Finance Ministry sees such a task by 2017,” TASS quoted him as saying. The expenses at that period will remain at around 15 trillion rubles (US$294.6 billion), according to the minister.