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Russian companies’ tax debts down by 8% as of January 1

November 21, 2011, 7:59 UTC+3
Mishustin underlined that by this indicator Russia reached the level of industrialized countries
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MOSCOW, November 21 (Itar-Tass) — Russian enterprises’ tax debts in general reduced by 103 billion roubles or by 8 percent from the beginning of the year and as of October 1 totalled 1.173 trillion roubles, the head of the federal tax service, Mikhail Mishustin, said in an interview with the Rossiyskaya Gazeta daily published on Monday.

“At the same time back in 2004 the debt-to-GDP ratio totaled 14 percent, in 2010 – only 2.8 percent,” he said.

Mishustin underlined that by this indicator Russia reached the level of industrialized countries.

“All this is the result of effective tax administration measures,” he said.

“A stable trend registering high rates of tax contributions (to the federal budget, in January-September they grew by 1.4 times) allows us to forecast the fulfillment of the increased budget,” he said.

“Over the past ten months it had been fulfilled by 84 percent. Thus, we’ve been performing the task of reaching the deficit-free budget this year,” Mishustin said.

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