The New Tax Policy in Russia: What Changes May Lie Ahead After 2018?
In his annual message to the Federal Assembly, President Vladimir Putin said: ‘Today, the increasing demand of people for expanding economic freedoms (we have talked about this many times), for stable, steady, predictable rules of business, including the taxation system, is obvious. Let me remind you that in 2014, we decided to fix the existing tax conditions for business for four years. We did not review them, despite the changes in the economic situation, and this definitely had a positive impact on the operation of enterprises.
However, we must focus our tax system to make it work for the main objective: to stimulate business activity, economic growth and investment, creating a competitive environment for the development of our enterprises. The existing fiscal benefits shall be streamlined to make them more targeted and to abandon ineffective instruments.
I suggest considering the proposals for setting up the tax system thoroughly during the next year, to do this certainly with the participation of business associations. Despite the domestic political calendar, we still will have to prepare and adopt all appropriate amendments to the legislation, the Tax Code in 2018, and after January 1, 2019 to put them into effect, fixing the new stable long-term rules.’
Issues for Discussion
- What changes in the tax system in Russia are in store in the near future?
- How do we envisage the further adjustment of the domestic tax system?
- Where and with whom will the new tax policy be discussed?
- How will decisions about changes in the taxation system be made?
Chairman, Committee on Budget Issues and Taxes, State Duma of the Russian Federation
Minister of Finance of the Russian Federation
Minister of Economic Development of the Russian Federation
Chairperson, Accounts Chamber of the Russian Federation
President, Russian Union of Industrialists and Entrepreneurs
President, Chamber of Commerce and Industry of the Russian Federation
Rector, Russian Foreign Trade Academy
Governor, Khanty-Mansi Autonomous Okrug