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. Last Updated: 07/27/2016

Hotel Saves Tax With New Name

The oldest hotel in the Volga River city of Nizhny Novgorod has decided to change its name to avoid paying a tax on all businesses that use the words "Russia" or "Russian".

The Rossiya Hotel will be called the Volga Otkos, which means "steep bank of the Volga", and save 2 million rubles in tax.

Alexander Yerumin, press secretary for the Moscow Tax Office, said that the tax on the words russky, rossiisky, rossiya, was imposed in May of this year so that "the name Russia will be used in a normal, respectful way".