Siluanov said there are no prerequisites for changes in the tax system

The federal budget for 2024-2026 is balanced and does not require major changes to the tax system, said Finance Minister Anton Siluanov. According to him, work to determine tax policy is carried out annually.

As the head of the Ministry of Finance noted, the department’s work regarding the budget for the next three years involves possible clarification and improvement of the tax system. “We formulate both our own proposals and carefully consider and discuss business proposals,” said RBC Anton Siluanov.

Forbes reportedthat following a meeting with business on November 15, Russian President Vladimir Putin instructed the government to consider introducing a differentiated income tax rate for businesses depending on the company’s investment activity.

The head of the Russian Union of Industrialists and Entrepreneurs, Alexander Shokhin, said that big business is not against increasing the profit tax rate in exchange for new investment deductions and the expansion of existing ones. According to him, business will support transparent measures, while entrepreneurs are concerned about the unpredictable policies of the authorities.

This year, the authorities introduced a 10% windfall tax for companies whose profits in 2021-2022 exceeded 1 billion rubles. The contribution must be made before January 28, 2024. The Ministry of Finance reported that there are no plans to reintroduce the windfall tax next year.

Read more about Putin’s instructions in the Kommersant article. “Taxes can be tied to activity”.

Lusine Balasyan