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Changes in social taxes for Individual Entrepreneurs

Changes in social taxes for Individual Entrepreneurs

Russian Duma is currently discussing a new legislative draft that introduces a new calculation method for social taxes of Individual Entrepreneurs.

According to the draft, the rate of social taxes will no longer depend on minimum wage and will be connected to certain fixed values instead. Starting from the year 2019, these fixed values will be adjusted annually, at the rate exceeding the anticipated inflation rate. According to experts, the introduced reform will ease tax burden for small businesses at least during next two years.