First Deputy Prime Minister Sergei Ivanov held a meeting on March 19th with the head of Delovaya Rossia, the entrepreneurs' alliance. It was during this event that Sergei Ivanov announced that a cluster of woodworking companies needed to be set up in the Russian Far East. According to the First Deputy Prime Minister, this cluster should be established specifically in the Far East, and not in European Russia.
In addition to this, he noted the problem of exporting roundwood from Russia which is then processed by woodworking firms abroad.
Ivanov said at the meeting that VAT would be reduced from 18% to 12-13%, but that this would happen no earlier than the second half of the year. He emphasized that by reducing VAT ‘according to preliminary calculations, the fall in revenue to the federal budget would exceed 1 trillion RUR.’
This news was prepared by the Editorial Board of the "Russian Forestry Review" magazine
www.RussianForestryReview.com
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