12.01.08

Russia’s Ministry of Finance announced a new method for determining the maximum profit a company can make and still switch to the Simplified Tax System (STS). The new system will come into force starting January 1, 2008.

A company may not have made more than 18,615,000 RUR in profit during the first nine months of 2007. 

A taxpayer’s must have made less than 24,820,000 RUR in profit during that same time frame. (Letter of the Ministry of Finance of the RF # 03-11-04/2/268 from November 1, 2007).

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