Prime minister orders discussion on two-year tax break for new individual entrepreneurs

Russian Prime Minister Dmitry Medvedev has asked the Economic Development Ministry, the Finance Ministry and the Labor Ministry to hold discussions together with the Delovaya Rossiya public organization on a possible program that would allow the authorities to exempt new individual entrepreneurs from paying taxes and mandatory insurance contributions for two years.

Russian Prime Minister Dmitry Medvedev has asked the Economic Development Ministry, the Finance Ministry and the Labor Ministry to hold discussions together with the Delovaya Rossiya public organization on a possible program that would allow the authorities to exempt new individual entrepreneurs from paying taxes and mandatory insurance contributions for two years.

The list of instructions issued after Medvedev's meeting with Delovaya Rossiya representatives on June 26 has been circulated by the government press service.

The ministries have until August 5 to implement the prime minister's instruction.

Delovaya Rossiya co-chairman Alexander Galushka said earlier that new individual entrepreneurs could be entitled to a tax break starting from 2014.

"Our first task is to help it [tax exemption] come into effect starting from January 1, 2014. At the same time, we understand that it is a serious challenge, that we may not be able to make it happen," he said at an Interfax press conference earlier this week.

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