To Innovation - Breaking Politics, Economics, Crypto & IT News

learn more
Reporting from Watford, UK and LA, US since 1996
learn more




TOP STORIES
Starbucks is not accepting Bitcoin, but builds an exchange

It will generally allow the crushed and boiled crypto investments to be converted to the crushed an...



Russian State Duma offered introducing of quotas for domestic products



Trading chains must sell at least half of Russian products apart from others.



02.Sep.14 3:12 PM
By Mihail Prygunov
Photo Toinnov.com

   368

Russian State Duma offered introducing of quotas for domestic products
Deputies of State Duma have shared their opinion about the fact that range of products provided by all trading chains must consist of at least 50% of Russian products. The Officials are working out the following bill at the moment. It will lead to several corrections in Federal Law that deals with regulation of trading operations and Tax Code of Russian federation. Such measures are taken in order to protect Russian producers of different products. The bill will consider that range of products in trading chains should consist of at least 50% of domestic products.

Authors of new bill have a clear understanding that some product categories canít be produced or produced in a limited amount on the territory of Russia. For example, domestic fruits are not available in winter. Special exceptions for such categories of products will be made in a new bill.

Changes of Tax Code result in lowering of VAT rate by10% in case of selling domestic products.

Representatives of trading chains have not yet made any comments regarding new bill. Conclusions can be made only after this bill comes into force. Representatives of agricultural field have already approved of this initiative.



Back to the list


Related Information: