The decree signed by Yeltsin said the tax cut would apply to manufacturing joint ventures in Russia capitalized at no less than $100 million and with a foreign stake worth $10 million or more.
The cuts will be effective over a period of five years.
The decree, effective immediately, gave the government two months to develop a mechanism to implement the tax cuts and to prepare the necessary draft laws to be presented to parliament.
Yeltsin's decree did not say which goods would be entitled to lower import duties. Imports of alcoholic drinks and tobacco would not benefit from any reductions.
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