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Sales Tax Russia

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July 17, 1998 | RICHARD C. PADDOCK, TIMES STAFF WRITER
Russia's lower house of parliament, under pressure to raise revenue so the country can qualify for $17.1 billion in new foreign loans, passed landmark legislation Thursday imposing a 5% sales tax on consumer goods. The measure, which would raise an estimated $6.5 billion for Russia's regional and local governments, is the centerpiece of a program proposed by President Boris N. Yeltsin to revive the struggling economy by slashing spending and raising taxes.
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NEWS
July 17, 1998 | RICHARD C. PADDOCK, TIMES STAFF WRITER
Russia's lower house of parliament, under pressure to raise revenue so the country can qualify for $17.1 billion in new foreign loans, passed landmark legislation Thursday imposing a 5% sales tax on consumer goods. The measure, which would raise an estimated $6.5 billion for Russia's regional and local governments, is the centerpiece of a program proposed by President Boris N. Yeltsin to revive the struggling economy by slashing spending and raising taxes.
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