The head of the Ministry of Economic Development Maxim Reshetnikov believes that the Russian authorities need to “carefully tune” the taxation system in the country, as this can help stimulate business to invest.
He noted that it is necessary to achieve a balance in the direction of business profit for investments and dividends, pointing out that those parties that are not interested in investments should be ready to “give funds to the treasury.”
“It seems to me that this is a working scheme, it will be discussed, the Ministry of Finance has already presented some sketches for this, now it will be discussed, with business as well. The main thing is that you need no revolutions. We need to be very careful about what we have, and carefully tweak it, ”the head of the department said in an interview with RBK on Monday, June 7th.
On June 4, during a speech at the St. Petersburg International Economic Forum, Russian President Vladimir Putin said that the tax system in the country is quite stable. He also instructed parliamentarians to complete work on a bill that would free small businesses from tax reporting. In addition, the head of state announced the launch of new business support mechanisms. According to the Russian leader, it is necessary to introduce the so-called umbrella provision of guarantees.
During the SPIEF, Finance Minister Anton Siluanov said that the Russian government is not considering raising the personal income tax (PIT).
At the end of February, Putin approved a new preferential credit program for business support, FOT 3.0. 7.8 billion rubles were allocated for its implementation. Companies from industries that have not yet returned to pre-crisis levels, including representatives of the tourism and sports industries, will be able to participate in the program.