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Russia Tax Rates 2008 March 2008 In 2008 there are no significant changes, compared to 2007. The Russian corporate income tax rate in 2008 is 24%. The personal income tax rate is 13% for Russians, 30% for non-residents. The standard VAT rate is 18% .There is also a reduced VAT rate of 10%. From 1.1.2008 dividend income received by Russian companies from foreign companies is taxed at 9%, compared to 15% in 2007. Russia Tax Amnesty March 2007 On 1.3.2007 Russia declared the first tax amnesty for individuals. The amnesty relates to undeclared income from 2001 till 1.1.2006. Individuals declaring till 31.12.2007 on such income will pay a 13% tax rate,the same rate as the flat tax rate in Russia, without facing any criminal charge. The money can be transfered directly to the Federal Tax Service bank account, without having to deal directly with the tax officials. The tax amnesty,which has no minimum or maximum limit, does not relate to people who were already convicted for tax evasion. The amnesty hopes to bring back to Russia some of the US 160 billion capital which fled from the early 1990's from Russia. In 2006, surprisingly,the capital inflows into Russia were about US 41 billion. Russia Taxes January 2007 From 1.1.2007 losses from previous period can be fully carried forward against the present year income. before 1.1.2007 offset was limited up to 50% of the current year income. From 2007 R&D expenses can be depreciated in one year, regardless of being successful or unsuccessful. Russia - Kaliningrad Special Economic Zone (SEZ) April 2006 From 1.4.2006 there are new tax incentives for investors in Kaliningrad SEZ. Companies investing in production a minimal sum of 150 million Rubles within 3 years are exempt from Russia corporate tax for 6 years, with additional 50% corporate tax reduction for the next 6 years. There are additional benefits, including exemption from customs duties. Russia Inheritance and gift tax July 2005 There is a new law,effective from 1.1.2006 Main changes: -Abolition of the inheritance and gift tax. -Close relatives would pay no personal income tax on gifts, e.g. real estate, cars, shares etc. -Non close recipients would pay personal income tax on gifts. Russia Income tax January 2005 From 1.1.2005 Russia new income tax rate for dividend income paid within Russia is 9%(previous rate-6%).

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