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Putin to confer with RF govt about Finance Ministry plan for a period until 2018

March 05, 2014, 3:41 UTC+3 MOSCOW
1 pages in this article

MOSCOW, March 05, /ITAR-TASS/. President Vladimir Putin, at a regular conference with the RF government, will discuss the activities and the work plan of the Finance Ministry for the 2013-2018 period, the Kremlin press service reported.

Meetings , which have already become regular, between the Head of State and the Cabinet members are held once in two weeks and deal with the accomplishment of the tasks set by the President in his Address to the Federal Assembly (parliament) infurtherance of the May Decrees of 2012.

The document, presented by the Finance Ministry, sets out twelve objectives, key activities and gived the names of officials responsible for them. The document mentions, in particular, the creation of a mechanism of state guarantees for investment projects for sectors other than oil and gas, the establishment of a legislative base regulating the formation of compulsory pension accruals according to new rules and giving greater scope to beneficial and reliable investment of pension assets.

Besides, the document includes matters connected with a pretrial settlement of tax-related disputes, counteraction to tax evasions with the use of offshore schemes, and the ensurance of a steady fulfilment of the consolidated budgets of the constituent entities of the Russian Federation.

The document also sets forth measures to broaden the spectrum of financial instruments, the development of fiscal infrastructure, the institutions of financial markets, including those for developing the securities market.

Special attention is devoted to forming a system of strategic budget planning and forecasting with due regard for transition to programmr-based budgets and the elevation of the RF's rating in the Ooen Budget Index.

Within the same period it is planned to switch the accounting and audit systme over to international standards and to bring tax records closer to book keeping, optimize the procedure for registration of legal entities and individual entrepreneurs and refine tax administration.

Priorities within the period until 2018 are to raise the effectiveness of budgetary investments, prepare a new wording of the Budgetary Code of the RF, work out Federal standards for the organization and conduct of accounting records by the state governance sector with due regard for international standards for the public sectorm, and introduce a tax on real estate property for natural persons, including an increased taxation of property with a high cadaster value.

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