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Tax Reform Package Continues to Take Shape

RUSSIA
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
  • The Russian finance ministry are to detail and outline proposals for a "reasonable" approach to progressive taxes, according to the finance minister speaking to IFX.
  • The head of the State Duma tax committee stated the reforms will be based on four principles: not affecting most individuals and businesses, the effective and transparent use of extra revenues, revenues to be spent on "important" goals such as healthcare and technology and lastly fair distributions, according to Vedomosti.
  • Railway shipments of construction freight have slipped to a five-year low following the completion of major infrastructure projects across Russia, according to Kommersant. The paper cites experts in pointing to a pause over the Presidential elections and dependency on the cost of borrowing.
  • Russian oil revenues from China are in focus after independent oil processors in China are seen taking on the lowest volumes of Russian ESPO crude since 2021, according to Bloomberg. The pieces cites shrinking refining profits and other grades being offered at lower prices.
  • Putin meets with the King of Bahrain later today, while Siluanov continues to conversation of taxation reform in Parliament.
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  • The Russian finance ministry are to detail and outline proposals for a "reasonable" approach to progressive taxes, according to the finance minister speaking to IFX.
  • The head of the State Duma tax committee stated the reforms will be based on four principles: not affecting most individuals and businesses, the effective and transparent use of extra revenues, revenues to be spent on "important" goals such as healthcare and technology and lastly fair distributions, according to Vedomosti.
  • Railway shipments of construction freight have slipped to a five-year low following the completion of major infrastructure projects across Russia, according to Kommersant. The paper cites experts in pointing to a pause over the Presidential elections and dependency on the cost of borrowing.
  • Russian oil revenues from China are in focus after independent oil processors in China are seen taking on the lowest volumes of Russian ESPO crude since 2021, according to Bloomberg. The pieces cites shrinking refining profits and other grades being offered at lower prices.
  • Putin meets with the King of Bahrain later today, while Siluanov continues to conversation of taxation reform in Parliament.