Putin signs zero VAT bill

RBC, ^ | 28.02.2006,

[jb6]

RBC, 28.02.2006, Moscow 19:11:41.Russian President Vladimir Putin has signed the federal law amending the Russian Tax Code in so far as it concerns the application of a zero VAT rate and VAT refund, the President's press service reported.

The State Duma passed the law on February 15, 2006, overriding the Federation Council's veto of February 8, 2006. After this the law was sent to the President for signing, bypassing the upper chamber.

[jb6]

Just more of that Putin "communism", cutting taxes and government.

[Scribbz]

What the heII is a vat?

[Calpernia]

/teasing :)

[JerseyHighlander]

They've been truly westernized, or is our politicians have taken to old KGB agitation?

Putin signed a bill into law that will zero out the planned increase of the VAT for this year only. The VAT is still in place.

It's like Republicans claiming to reduced the federal outlays, when they've really reduced the percent increase in the future years INCREASE in federal outlays.

[Scribbz]

now i'm lost 2X

either bucket o' worms

or

Bovine Poop?

[VeniVidiVici]

What the hell is a vat?

It's what one says when one wants to unpimp the auto.

[VeniVidiVici]

Putin signed a bill into law that will zero out the planned increase of the VAT for this year only. The VAT is still in place.

Well, that's a hell of a difference than the implication of the article.

[Alter Kaker]

It's easy to run an essentially socialist government on near zero taxes when your entire system is funded by state-controled oil revenues.

Unfortunately for us in the rest of the world, our money doesn't come from out of the ground.

[Alter Kaker]

Just more of that Putin "communism", cutting taxes and government.

Do you actually believe the nonsense you post? Putin may be cutting taxes, but he's vastly expanding government. He pays for everything with state-controled oil revenues.

[Walkingfeather]

Valued Added Tax

[demlosers]

Value Added Tax - VAT

[Proud_USA_Republican]

The only problem with by having all your oil production controled by the state, is that production output and exploration nosedives.

[jb6]

The state there controls about 30% of the oil production. Personally I don't think they should control any, but to say they control all is far from the truth. Just ask Exxon, Chevron and BP-TNK about that.

[jb6]

What's causing the dive in exploration is taxation of 90% on every dollar about 25. On the other hand, with these taxes, they lowered the tax rates on all other industries, especially technology to allow them to grow and diversify the economy.

[jb6]

but he's vastly expanding government

Proof please. It's us who now have 30% or so of our work force working for Federal, State or Local government.

[jb6]

The state there controls about 30% of the oil production. Personally I don't think they should control any, but to say they control all is far from the truth. Just ask Exxon, Chevron and BP-TNK about that.

Ask Ford, Tyotota, IBM, Boeing, Levis, Jeep, BMW, Renault, Intel, HP and hundreds of other US/European companies about that so called socialist government. Or is it the bans on abortion and Christian education in the public schools that you find socialist?

[MarshallDillon]

VAT: VAlue Added Tax,
... see: http//www.fairtax.org

Problem is, they also have an "income" tax rate of 13 %.

[Calpernia]

I'm sorry. The picture I posted is a vat (a vat of butter). I do see freepers already answered you on what the actual VAT is.

[x5452]

Putin has been cutting and abolishing taxes left and right and each time Russia's economy grows more, our 'rebublican' congress could learn a thing or too from it.