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Arctic regions should have authorities to regulate tax benefits, says official

The policies of tax benefits should be balanced and accurate, says Murmansk governor

MURMANSK, June 7. /TASS/. Russia’s Arctic regions should be given authorities, first of in offering tax benefits to investors, the Murmansk Region’s Acting Governor Andrei Chibis said in an interview at TASS’ booth at the St. Petersburg International Economic Forum.

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Expert calls Arctic promising region for wind turbines

"A region should keep authorities, an instrument to support and stimulate investments," he said. "We are very interested in investors working in our region, so that they invested money, developed, and upgraded our facilities."

This is a basic position, the region presents to the federal power, including in work on the law on the Arctic, he continued. At the same time, the official pointed to effective federal measures of support, including in taxes.

The policies of tax benefits should be balanced and accurate, as every regional budget depends on received tax payments, he added.

"If every company receives benefits, then the budget will be short of taxes, while social infrastructures are being exploited," he said.

About the forum

The 2019 St. Petersburg International Economic Forum is being held on June 6-8. The event’s motto this year is "Creating a Sustainable Development Agenda." The forum’s organizer is the Roscongress Foundation. TASS is a media partner, the official photo hosting agency and the operator of SRIEF’s presentation zones with support from multinational firm EY, and the Foreign Investment Advisory Council in Russia.

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