The Ministry of Finance plans to fine-tune tax incentives for businesses in early 2023

The Ministry of Finance plans to submit proposals to the government on improving investment tax incentives for businesses, said Deputy Finance Minister Alexei Sazanov, speaking at the Kept seminar “A new system for evaluating the effectiveness of investment tax incentives.” Such work, according to him, will be carried out starting from the first quarter of 2023. The issue does not concern specific industries, but the volume of preferences, which should not exceed investments, Sazanov explained to Vedomosti. The abolition of any tax benefits is not considered, he said.

Now the tax expenditures of the budget for investment incentives are estimated at 2.4 trillion rubles, of which about 2 trillion rubles. accounts for the oil and gas industry, 400 billion rubles. – to other sectors of the economy, Sazanov said. The task of assessing how the benefits work, whether they encourage taxpayers to new investments, was set by the Ministry of Finance back in 2020, he recalled. To do this, together with the Federal Tax Service, the analytical system “Effectiveness of Benefits” was developed.