In an effort to clamp down on tax fraud, Russia’s Finance Ministry has drafted a bill that would require those wishing to purchase super-expensive items first to satisfy the tax inspectors that the goods will be paid for with honestly earned income on which tax has been paid. Items covered would be those costing more than one thousand times the official minimum salary, real estate being the obvious candidate. The State Tax Inspectorate has protested that it is grossly understaffed and would need to hire thousands of new employees if the bill became law. (Finansovye izvestiya, June 4)
Moscow Urges Iraqi Deals.