Russia Loses $398,000 In Budget Revenues From Tax Privileges At Baikonur Launch Pad

Finance Minister Alexey Kudrin welcomed a decision of the Russian Supreme Court as of December 26 that rejected tax privileges provided by the administration of the Baikonur launch pad to some business structures. The minister noted at a meeting with journalists today that the federal budget lost 12 million rubles (about $398,000) from these privileges this year. On the whole, losses from various tax privileges amounted to 51 billion rubles ($1.69 million) in 2001. Kudrin stressed that this decision of the Supreme Court confirmed the validity of the corresponding decision of the government commission made earlier as the main task of this commission was to avoid budget deficit for the further reduction in tax burden.

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