A measure to tax all the deposits in Cypriot banks under new special taxing policies is something unparalleled, never seen before. Today, the Cypriot Parliament will decide whether or not to approve the decision of the President, which is linked to obtaining financial assistance fr om the European Union in the amount of 10 billion Euros.
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Taxpayer internet services from the Russian Federal Tax Service
15 march 2013
On 15 March, 2013 the Head of the Russian Federal Tax Service M.V. Mishustin, First Deputy Finance Minister T.G. Nesterenko, Head of the Federal Treasury, R.E Artyukhin made a working visit to Ufa 1.
Nabiullina's nomination is a compromise step in the search of optimal policy
13 march 2013
On the 12 March, President of the Russian Federation Vladimir Putin proposed candidate Elvira Nabiullina for the role of Head of the Bank of Russia.
The Russian government has approved the state program on the "Development of Foreign Economic Activity"
12 march 2013
On March 7, 2013, the Minister of Economic Development Andrei Belousov, spoke at a meeting of the Russian Government to report on the draft of the state program on "The development of foreign economic activity." After the discussion, the decision was agreed upon to approve the draft of the state program.
The death of Hugo Chavez - a factor of political risk in trade and economic relations
06 march 2013
The news of the death of the president of Venezuela, Hugo Chavez once again leads us to analyze the prospects of trade and economic cooperation with resource-dependent economies which simultaneously hold a high political risk.
Restricting cash flow will reduce the shadow sector of the economy
28 february 2013
In recent days, the Russian Finance Ministry has been actively discussing an initiative to establish a limit for payment transactions using cash funds. In this case, the different levels of the limits are referred to: 600 thousand, 300 thousand or even 100 thousand roubles.
The banking sector has entered a phase of calm
28 february 2013
In January 2013, the Russian banking sector entered into a phase of particular calm. The main indicators of credit dynamics of borrowed funds for the month were slightly downward.
The real sector of the economy: factors and trends
27 february 2013
If we take a look at this January, the dynamics of the main macroeconomic indicators with regards to the possibility of achieving the forecast of the Russian Economic Development Ministry for 2013 - growth of GDP at 3.5%, industrial production - at 3.6%, retail trade turnover - 5.4% and investment in fixed assets - 6.5%, - this achievement involves the mobilization and efficient use of resources.
Changes in Small Business Taxation
26 february 2013
Since January 1, 2013 patent-based taxation system for individual entrepreneurs is imposed; it is regulated by a separate Chapter 26.5, Part two of the Tax Code of the Russian Federation, having been singled out fr om Chapter 26.2 "Simplified Taxation System" into a separate special taxation regime.
IMF: The Economy Growth Pace of the Russian Federation May Exceed 6% a Year
20 february 2013
Odd Per Brekk, Senior Resident Representative of the International Monetary Fund in the Russian Federation, said that the Russian economy may grow at a pace over 6% a year provided that optimal policy in the investments sphere be realized. He added that everything would depend on the kind of economic policy the government was going to conduct.
Common Economic Space Must Secure Unhampered Commodity Flow
19 february 2013
The Customs Union of Belarus, Kazakhstan and Russia has been functioning for several years already; the creation of it allowed to establish uniform rates of customs duties on the external borders of the union and cancel inter-state duties. On January 1, 2012 a new stage of the economic integration of the three countries began - the Common Economic Space was created, functioning in conformity of the norms and principles of the World Trade Organization.
A Large Quantity of Diplomas Downgrades Their Quality
19 february 2013
Prime Minister of the Russian Federation Dmitry Medvedev instructed the government to work out, by March 31, 2013, the plagiarism check system for students' graduation thesis and dissertations for a candidate or a doctoral degree, as well as the rules of placing dissertations on the Internet.
Currency War Renunciation is Call for Talks
18 february 2013
On February 16, the G20 Finance Ministers and Central Banks Governors signed off the communique, where G20 countries agreed to refrain from competitive devaluation.
2013 will be quite difficult for the Eurozone
14 february 2013
On February 14 the Statistical Office of the European Union (Eurostat) has informed that the GDP of 17 countries in the Eurozone in Q4 2012, according to the first estimate, fell down by 0.6% as compared with the preceding quarter and by 0.9% in the relevant period of 2011.
The situation can be improved by changing the current model of economic development
14 february 2013
The Russian Ministry of Finance informed on Wednesday, that the federal budget deficit in January of this year has reached Rb 81.25bn, or 1.8% of GDP.
Institutional reforms will accelerate economic dynamics
13 february 2013
On February 12 the Bank of Russia informed that it remained unchanged the refinancing rate and interest rates for its basic operations.