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Rate For Simplified Taxation System In Moscow May Be Lowered To 10%

The Moscow City Council will soon be reviewing the corresponding bill.

The city government has commanded that a bill lowering tax rates from 15% to 10% for organizations and private entrepreneurs using simplified taxation.

The changes will affect those involved in processing, property management, scientific research and development, sports, and providing social services.

“The 10% tax rate applies to taxpayers whose revenue earned from selling products is 75% or more of their total earnings for the fiscal (tax) period,” the document states.

The bill will soon be reviewed by the Moscow City Council and is expected to pass and take effect starting January 1, 2010.

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