Economy Minister and business discuss the Ministry’s initiative to raise the sales tax

Representatives of business associations met with Economy Minister Oleg Pankratov to discuss the Ministry's initiative to raise the sales tax from 2% to 5%. According to the Minister, the main goal of the bill is to stimulate non-cash payments. During the discussion, business representatives stressed the need for an integrated approach to increasing non-cash payments. The participants decided to create a working group on the development of Regulatory Impact Analysis (RIA). The WG will study and develop alternative mechanisms to reduce the level of the shadow economy and increase non-cash payments.