Putin For Russia's Active Role In World Economy Liberalization

Russian President Vladimir Putin has pronounced for Russia's active participation in further liberalization of the world economy. He said it Tuesday at the World Economic Forum session in Moscow. According to the Russian head of state, the economic situation in Russia has "changed dramatically" over the past two years. He focused on the most crucial indices of economic growth, saying that Russia "is a country creating favourable tax conditions. He mentioned the facts he said were known to almost everyone: the 13% tax rate for natural persons, which is the lowest in Europe, reduction of the income tax from 35% to 24% (from 43% to 24% for banks). Putin emphasized at the same time that the Russian government was "trying to give an impetus to foreign companies' investment activities." He added that the Russian economy would further proceed along the avenue of the tax system simplification. According to the president, it will soon be necessary "to define the maximum obligatory deductions for taxpayers." The president explained that "the tax burden had been the main hamper to our economy during a long period."