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Putin says government working on changes to taxes

May 25, 2018, 15:55 UTC+3 ST PETERSBURG

The system will be set in place for 6 years, according to Putin

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ST PETERSBURG, May 25. / TASS /. Russian President Vladimir Putin promised that the new tax system that the government is currently working on, will be set in place for 6 years, said he in response to the question at the Russia-France business dialogue at the 2018 St. Petersburg International Economic Forum on Friday.

"I have already talked about the stability of macroeconomic policy, and we will achieve it in the area of taxation policy as well. Right now, the government is working to introduce certain changes to the tax system, but after we do this, we will keep it in place for 6 years," the President said.

The president noted that Russia has a whole program in store to change the business climate and expressed the hope that it will be implemented. Speaking about taxes, Putin added that "business can be confident that tax conditions will be respected." He also assured that further development of the infrastructure as a whole is planned, "because infrastructure development is one of the priorities identified in the State of the Nation Address to the Federal Assembly."

He also promised to reduce administrative loops and administrative pressure on business. "There is room for reform here. It's not just our problem. I know that the business community runs up against this in other countries as well," said Putin, and promised to maintain direct financial support and privileges for those projects that are considered to be nationally significant in Russia.

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