In the first half of 2016, the United States invested $710 million in Ukraine’s economy, the Ukrainian Economic Development and Trade Ministry reported on its Facebook page. “The United States is one of Ukraine’s most important partners, and relations between the countries become even stronger. The total trade turnover has come to $1.2 billion over…
Russia’s Finance Ministry may resume discussion about excises on sugared beverages in 2017, Deputy Minister Ilya Trunin reported. “The issue is delayed until the next tax policy is discussed. The next window of possibilities will appear in a year”, he said. In early 2016, the government considered introducing excise duties on palm oil and some…
The Russian government has allowed oil major Rosneft to buy the government’s 50.08% stake in oil company Bashneft without an auction for 329.6 billion rubles, a source at the Energy Ministry reported. On September 30, First Deputy Prime Minister Igor Shuvalov said that the government had decided to resume preparations for the sale of its…
The Russian Finance Ministry does not support a proposal by the Federal Antimonopoly Service to introduce a floating excise on engine fuel depending on global oil prices, Deputy Minister Ilya Trunin said. The official said that fuel excises were a source of replenishment of road funds. “This means that we will need to introduce floating…
The Russian government will most likely sell a 19.5% stake in oil major Rosneft in November, Economic Development Minister Alexei Ulyukayev reported. “We do not have the time now. According to the schedule, most likely in November”, he said. (Prime/Business World Magazine)
The Russian government plans to save about 700 billion rubles by cutting inefficient spending and redistribute around one trillion rubles in the 2016 budget, including social spending, Prime Minister Dmitry Medvedev said at a government meeting. “We are working on reduction of inefficient budget spending. We plan to save around 700 billion, even more, this…
The Russian government can limit deductions on corporate profit tax for consolidated taxpayer groups from 2017, Deputy Finance Minister Ilya Trunin said. The current consolidated taxpayer group rule allows companies to include an unlimited amount of corporate units running at loss into the taxable base and reduce it. Trunin said that the Finance Ministry offered…