Deputy Finance Minister Alexei Sazanov said that the department is working out several options so that businesses would 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.
“We definitely do not have a goal to raise the income tax rate for everyone. You can consider some kind of penalty, for example, an increased rate, exclusively for those who abuse. At the same time, the size of the rate is not being discussed beyond the limit – 25-30%, we are not talking about increasing it several times, ”Mr. Sazanov told Forbes.
He described the payment of dividends as normal business practice. Alexey Sazanov noted that the department cannot restrict companies in this, but sometimes “flagrant abuses” occur. “On the one hand, we must cut off such obvious abuses when resources are pumped out of the economy and business, when funds are not reinvested even at the depreciation level. At the same time, it is impossible to violate the interests of investors who are waiting for dividends. We will look for a middle ground, ”the deputy minister said.
According to him, decisions on this issue have not yet been made, discussions are underway at the level of ideas, an increased rate of corporate income tax can be introduced only if the amount of dividend payments of this organization exceeds “reasonable values.” “If, nevertheless, the decision on tax adjustments is made, then by the end of the summer we will reach specific parameters. We propose to start from the ratio of the level of dividend payments on shares to the level of the company’s capital, ”he said.
According to Forbes sources, several more ideas are being discussed to encourage businesses to invest in Russia. Options include raising the income tax rate for everyone, but making a tax deduction for those who invest. Also among the options is interaction according to the principle of the Fund of Funds: the participants of the fund must invest 10 billion rubles in it, the same amount will be invested by the state, and the fund will invest in selected projects.