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Taxes

Taxes in Russia vs. Other BRICS Countries, as % of GDP (2013)
Country Corporate Income Tax Personal Income Tax VAT
China 25% 3 - 45% (progressive) 17%
Brazil 25% 7.5 - 27.5% (progressive) 20%
India 30% 7.5 - 30% (progressive) 12.5%
South Africa 28% up to 40% (progressive) 14%
Russia 20% 13% 18%


Taxes in Different Countries in 2013, as % of GDP



Russia has the most liberal and favourable tax regime among all other BRIC countries:

  • Lowest corporate income tax – 20%
  • Personal income tax of 13%, regardless of income size
  • Opportunity to have a one-time write-off of 30% of depreciation costs for tax purposes
  • Zero profi t tax for educational and health care institutions
  • No capital gain tax in case of long-term direct investments
  • Cut in social contributions (payroll tax) from 34% to 30% from January 1, 2012

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