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G20 leaders present national fiscal strategies - Siluanov

September 06, 2013, 0:20 UTC+3
“I believe that the plan’s implementation will help solving this problem,” the Russian finance minister said
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STRELNA, September 6 (Itar-Tass) - A fiscal strategy, which Russia presented to the G20 summit on Thursday, fixes the same parameters of the budget and state debt deficit as in Russia’s three-year budget.

“Our fiscal strategy includes the same parameters of state debt deficit as our three-year budget,” Russian Finance Minister Anton Siluanov said.

The strategy also fixes the need to create more comfortable conditions for Russian business in terms of registration, paperwork, rights and licenses.

“In addition to that, we included investment stimulation measures in our plan. That indicator was fixed as a share of investments in the GDP. We had taken those parameters from presidential decrees. We also fixed positions on simpler registration of business,” Siluanov said. He added that all the G20 countries had presented their fiscal strategies.

The G20 leaders called for harmonization of the tax regimes on the first day of the G20 summit in St. Petersburg.

“The leaders stressed the need to fight tax evasion. We need to get rid of grey zones where tax evaders hide,” Russian Finance Minister Anton Siluanov told journalists at a briefing devoted to the G20 summit’s first day on Thursday.

Siluanov added that the G20 leaders had unanimously supported a plan to increase the transparency of taxation drawn jointly with the Organization for Economic Cooperation and Development (OECD).

“I believe that the plan’s implementation will help solving this problem,” the Russian finance minister said.

 

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