Putins Liberal Policies: #Putin2016 July 9, 2000, in speaking - TopicsExpress

Putins Liberal Policies: #Putin2016 July 9, 2000, in speaking to Parliament, Putin advocated liberal economy policies.[48] In 2001 Putin introduced flat tax rate of 13%;[49] the corporate rate of tax was also reduced from 35 percent to 24 percent;[49] Small businesses also get better treatment. The old system with high tax rates has been replaced by a new system where companies can choose either a 6 percent tax on gross revenue or a 15 percent tax on profits.[49] In February 2009, Putin called for a single VAT rate to be as low as possible (at the time it stood at an average rate of 18 percent): it could be reduced to between 12 percent and 13 percent.[50] Overall tax burden was lower in Russia under Putin than in most European countries.[51]

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