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Fiscal load on owners of prestigious, expensive property should be raised - Putin

"We should create such taxation conditions so that it would be more profitable to invest money in Russia than hide it somewhere on the islands," Russian president said

MOSCOW, June 13 (Itar-Tass) - The fiscal load on the owners of “prestigious, expensive” property should be raised, Russian President Vladimir Putin said in a Budget Message for 2014-2016 at the Kremlin on Thursday.

“It is needed to restrict a possible optimization of the taxes on the legal basis and the transfer of the profit in the offshore zones. The fiscal load on the owners of “prestigious, expensive” property should be increased,” the president said. “Thus, we should create such taxation conditions so that it would be more profitable to invest money in Russia than hide it somewhere on the islands or spend it for luxurious things,” Putin underlined.

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