The Ministry of Economy and the Ministry of Finance are studying the creation of incentives for the NCFD business to come out of the shadows

Economics Minister Maxim Reshetnikov held a meeting of the government commission for the development of the North Caucasus Federal District (NCFD). He stated that the department, together with the Ministry of Finance, is discussing the introduction of additional incentives, including tax ones, for businesses in the North Caucasus Federal District to come out of the shadows.

According to Mr. Reshetnikov, the district remains high compared to the average Russian unemployment rate and the shadow sector. The minister believes that the North Caucasus Federal District lacks “effective incentives for businesses and workers to come out of the shadows.” “We still have an idea, in addition to the Ministry of Finance, to think about measures that would stimulate the legalization in industries with a high share of the shadow sector and high employment, including looking at the practice of tax regimes that work effectively in other regions, something in part, move here, ”he said (quoted by TASS).

In mid-April, a joint meeting of the Ministry of Finance and the Ministry of Economy was held, which recorded the transition of the authorities from the anti-crisis program to support the economy to achieve national development goals and gradually normalize the budget process. In this construction, the government is once again counting on private initiative and investment by companies, calling business support one of its priorities. At the same time, the Ministry of Finance intends to tighten control over the effectiveness of benefits already issued.

Details – in the material “Kommersant” “The budget was painted for two”.

Laura Keffer