Transnistria wants to amend taxation system again
The expert-analytical Council on Economy attached to the Transnistrian Supreme Council comes out for amending the Transnistria taxation system.
According to the press service of the Supreme Council, Parliamentarian Mihail Burla motivated the need for correcting the concept of the fiscal and budget policy by the fact that the state could receive respective budgetary resources and the enterprises could work efficiently and carry on active economic activities.
Chief of the Taxation Policy Service of the Ministry of Finance Aleksandr Martynov proposed to change the present profit tax for organizations for the profitability profit, which combines profit tax and property tax.
“The novelty lies in the fact that the enterprise’s profits will be taxed depending of the profitability of enterprises’ capital. All the enterprises will work in equal conditions. A regressive rate scale is envisaged, the upper (40%) and the lower (10%) limits are fixed. On this basis the profit will be taxed depending on the capital profitability according to certain rates. The more profit enterprises earn, the lower will be taxes, imposed on them. Thus, enterprises receive a fairly mighty instrument to manage independently their tax load. To put it clearer, the more enterprises earn, the more is the returns from their assets and the lower is the tax”, he said.
According to the Ministry of Finance, virtually each enterprise, when it plans its economic indices for three years, also includes the salary fund increase and the investment growth deductions and, therefore, the GDP.
“However, as the Gazprom increases its gas rates to reach the contract prices, the enterprises’ profit drops abruptly. Taking into consideration that the tax on the enterprises’ profit is calculated on the basis of the production volume and the sales of their products in accordance with the taxation system in force, from 2009 to 2011 a considerable increase in the tax burden can happen. If in 2009 it constituted 74%, so in 2011 it will exceed 100%”, Martynov considers.
Transnistria pays for Russian gas USD192 per 1000 cubic meters and sells it to enterprises USD100 cheaper. For the population the gas is even cheaper. Transnistria’s gas debt exceeded USD1.6 billion. // Infotag
- Transnistria has higher retiring pensions comparing to last year
- USA to invest in Transnistria
- German proposal: Suspend Greek sovereignty as price of financial aid
- Moldova gets 13 million euro from EU for the Transnistrian region
- March inflation in Transnistria reaches 1.04%
- Residents of Transnistria to pay more for utilities
- Transnistrian Gazprombank transforms into Businessinvestbank
- Moldova to continue reformations on canceling customs duties
- Moldovan premier meets Italian foreign minister
- Transnistrian Supreme Soviet adopts 2010 budget bill with 70% deficit at 1st reading
- Asia, US helps Mercedes Benz sales hit record high in 2006
- Cricova: The Largest Underground Wine Cellar in the World
- What does Remortgage mean?
- Dutch bear profit rises 26 percent
- Foreign direct investment in India doubles during 2006
- Greece: Socialist government's budget deficit of 12.5% caused debt crisis
- Toyota in talks to build new China plant
- Walt Disney profit up 39 percent
- DaimlerChrysler is not planning to manufacture trucks in India