fbpx

Today in Russian Business – Nov 22, 2010

Sergey Matyunin questions the business implications of Russia’s amendments to the Civil Code, suggesting that it could mean ‘the end of relatively low taxation in Russia‘.  But businesses are looking set to pay significantly more tax in any case, under Finance Minister Alexei Kudrin’s new plan, under which payroll taxes for small businesses will rise by 20%.  Moscow says it won’t review land development contracts awarded before 2008.  At least half of the grain held in Russia’s intervention fund will be sold this quarter in a bid to stabilize rising prices.  The Kremlin issues work permits for almost two million foreign workers per year, with this year’s quota at just under 1,750,000.   On Russia’s blond hair harvest.  Mandatory insurance coverage could boost the Russian market by 7% next year, says insurer Ingosstrakh.