Russia Cancels Some Small Businesses Taxes

 
Reported by Rossiiskaya Gazeta of January 2, 2013, Russia has carried out a new tax system for small-sized businesses, three types of taxes can be canceled for private businesses with not more than 15 employees: corporate income tax, property tax, and value-added tax.

The new tax system involves 47 business activities including retail, small maintenance, hair care service, public catering, house renting, etc. The validity of the tax exemption is from one month to one year.