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Moscow’s budget collects only 10% of taxes from small businesses

May 29, 2012, 16:51 UTC+3
We should work together to raise efficiency, increase revenues, Moscow city mayor Sergei Sobyanin told
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MOSCOW, May 29 (Itar-Tass) — Moscow’s budget gets a mere 10 percent of its total tax revenues from small and medium businesses, Moscow city mayor Sergei Sobyanin told the city government meeting on Tuesday.

“Moscow has significant growth potentials and a mere 10 percent of the total tax revenues that Moscow gets today from small and medium companies is an extremely low figure,” he said.

“We should work together to raise efficiency, increase revenues, but at the same time we should keep a close watch on the financial discipline of enterprises,” he said adding that it is important as “these funds go into the development of the city’s social and transport infrastructure.”

 

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