RUSSIA - Jan. 17 - Tax Reforms To Aid Advertisers.The government is to introduce tax reforms that could boost the country's advertising and media industry. The new laws New Laws: see Las Casas, Bartolomé de. , expected within two or three weeks, will allow companies to deduct de·duct v. de·duct·ed, de·duct·ing, de·ducts v.tr. 1. To take away (a quantity) from another; subtract. 2. To derive by deduction; deduce. v.intr. more advertising spending from taxable income Under the federal tax law, gross income reduced by adjustments and allowable deductions. It is the income against which tax rates are applied to compute an individual or entity's tax liability. The essence of taxable income is the accrual of some gain, profit, or benefit to a taxpayer. . This will remove one of the biggest obstacles to the growth of the country's tiny advertising market. It could also increase the independence of the media from their owners, many of whom use their ownership to influence editorial policy. The reform is part of Pres. Putin's efforts to simplify the tax code and encourage the declaration of income. The ceiling on the amount of advertising spending that companies can deduct from their taxable income - 2% of their total revenues - has been criticised by advertising companies. |
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