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. Last Updated: 07/27/2016

BUSINESS WEEK IN REVIEW: No Death, Just Taxes




Svetlana Orlova, chair of the State Duma's subcommittee on tax, said that the government's new draft tax code is an improvement over previous proposals, but it will need major changes before the Duma will approve it. Meanwhile, Finance Minister Mikhail Zadornov said Tuesday he was confident the current tax code would be passed by the middle of the year.


Trade Minister Mikhail Fradkov announced Monday that Russia plans to introduce a number of measures in the first half of the year to protect the domestic market.


The Voronezh regional government threatened to force a local television component factory owned by Dutch electronics giant Philips into bankruptcy. Government officials say Philips owes more than 47 million rubles ($7.8 million) in taxes for VELT, a picture tube factory.