Mexico knocks out Russia from FIFA Confederations Cup with 2-1 win in KazanSport June 24, 19:59
Putin visits Crimean youth camp ArtekSociety & Culture June 24, 19:42
Conflict around Qatar should be settled by diplomatic means - source at Foreign MinistryRussian Politics & Diplomacy June 24, 16:44
More than 237,000 fans attend Confederations Cup matches already - Deputy PM MutkoSport June 24, 15:03
Sistema's president hopes for dialogue with Rosneft on settlement agreementBusiness & Economy June 24, 14:56
CNN deletes article about meeting between Scaramucci and Russian Direct Investment FundWorld June 24, 13:12
Ukrainian Army units shell Donetsk Republic in first hours of newceasefireWorld June 24, 5:19
Politician says Russia vs Mexico football game will be interesting to watchSport June 23, 21:11
Kyrgyz president sees revival of relations with Russia as major result of his tenureWorld June 23, 20:49
MOSCOW, January 21. /ITAR-TASS/. Russia's Economic Development Ministry is proposing tax rate cuts for citizens renting out their apartments in a bid to introduce more order and legality in the rental market, the newspaper Vedomosti reports.
President of the City Economy Foundation Institute Nadezhda Kosareva says just five percent of Moscow property owners pay tax on apartment rental income they receive, noting that the city budget loses some 27.5 billion rubles a year.
The damage is highlighted by Moscow Mayor Sergei Sobyanin, who says around 130,000 city apartments are rented out illegally.
Ministry officials propose the move in an attempt to increase population mobility, which requires development and legalization of the rental market, they say.
Cutting the tax rate to half or 60 percent of the current 13 percent income tax rate would also acknowledge asset depreciation and investment made, the ministry says.