Taxation of enterprise profit

Tax system introduced early in 1992 has operated under conditions of increasing inflation and disbalance in credit-mane security which reduced its efficiency. This year ordering in the system of paying different taxes is to be accomplished. A large effect is expected from a more liberal approach to taxation of that portion of profit which is used for investments. However as applied to metallurgical enterprises this privilege is limited by technical re-equipment which is a small part of investments needed for renewal of major funds and increase of competitiveness under market conditions. Discussion is given to experience gained in solution of economic problems with the help of taxes.