The Finance Ministry would like to keep the tax regime unchanged for a certain period, but life is richer and requires adjustments to the system, said Finance Minister Anton Siluanov. He noted that “life goes on and, of course, some taxation issues require adjustment and improvement.” Earlier, the minister said that the government is not considering increasing the personal income tax rate.
“Ideally, we would like to freeze tax regimes and keep them for 10 years, but life is richer, and we see that some positions require vacations, a reduction in withdrawals and support for industries, somewhere, on the contrary, we need to tighten up a little more. in order to withdraw super-marginal income … ”- said the minister during the St. Petersburg International Economic Forum (SPIEF) (quoted by Reuters).
“The rates have been and remain fundamentally on key taxes, nothing has changed fundamentally, but certain elements of the settings … may be,” said Anton Siluanov.
In 2020, against the backdrop of a pandemic, the Russian authorities decided to reduce the tax burden for small and medium-sized businesses, as well as IT companies. In return, an income tax on interest on bank deposits was introduced, the personal income tax for wealthy Russians was increased, the MET for metallurgists and fertilizer producers was increased, some of the benefits for oil companies were canceled, and agreements with offshore companies to collect taxes on dividends were revised.