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Russia’s ex-finance minister considers tax hike unnecessary

March 30, 6:50 UTC+3 MOSCOW

Vedomosti business daily wrote with reference to sources, that the possibility of raising the rate of personal income tax from 13% to 15% was discussed at a meeting with Prime Minister Dmitry Medvedev

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MOSCOW, March 30. /TASS/. Chief of the Center for Strategic Research (CSR) and ex-finance minister Aleksei Kudrin considers it unnecessary to raise taxes in Russia.

"I propose not to raise taxes. Today’s oil price is high enough - around $70 per barrel whereas only $40 per barrel is spent, meaning we continue stockpiling," he told the "60 Minutes" program on the Rossiya-1 TV channel on Thursday.

"Besides, it is possible to redistribute (expenditures - TASS) inside the budget, and invest more in education, healthcare and road (construction)," Kudrin said, adding that it is also possible to expand borrowings.

Last week Vedomosti business daily wrote with reference to sources, that the possibility of raising the rate of personal income tax from 13% to 15% was discussed at a meeting with Prime Minister Dmitry Medvedev.

After that Deputy Prime Minister Arkady Dvorkovich said that the government is against introduction of a progressive personal income tax rate, adding that one of the options under discussion is a slight hike of personal income tax simultaneously with the increase of tax exempt minimum, which means reduction of tax burden for people with low income.

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