The Russian authorities are discussing a “neat adjustment” of taxation to stimulate business to invest more, said the Minister of Economic Development Maxim Reshetnikov in an interview with RBC TV channel. He explained that it is impossible to prohibit the payment of profits to shareholders, but it is possible to “slightly discourage” the withdrawal of funds from companies and increase the relative attractiveness of new investments.
“It seems to me that this is a working scheme, it will be discussed, the Ministry of Finance has already presented some sketches for this, now it will be discussed, with business as well. The main thing is that you need no revolutions. … We need to be very careful with what we have and fine tune it, ”the minister said at the St. Petersburg International Economic Forum (SPIEF), which ended on Saturday.
At the same time, Mr. Reshetnikov is not against dividend payments in general. “We want with you private capital to go into the economy. Hence, dividends are normal. Hence, there must be a stock market. There is no stock market without dividends. This means that companies should be able to pay dividends normally, ”he said.
According to the head of the Ministry of Economy, nothing should change for those companies that invest profits. “And for those who now, taking advantage of this conjuncture, will begin to withdraw from companies, not engage in new investments, not launch a new investment cycle, it is probably quite natural that the state will say:“ Colleagues, then let us have some increased deductions to the budget, ” – said Maxim Reshetnikov.
Earlier, Deputy Finance Minister Alexei Sazanov said that the department is working out several options for businesses to take less profit to offshores and invest more domestically. One of the options under consideration involves an increase in income tax from 20% to 25-30% for those who abuse the withdrawal of funds abroad.
About the results of the SPIEF – in the material “b”.