MOSCOW, October 29. /TASS/. Russia’s Prime Minister Dmitry Medvedev instructed to submit proposals by July 1, 2020, on adjusting competition conditions for Russian and foreign Internet companies.

Medvedev instructed "the Ministry of Finance, the Ministry of Industry and Trade, the Ministry of Economic Development, and the Federal Antimonopoly Service to submit proposals on equalizing the competition between Russian and foreign Internet companies."

It was reported earlier that the Ministry of Economic Development supports equalizing tax conditions for Russian and foreign online stores.

In the materials for the budget for 2018-2020, the Ministry of Finance proposed lowering the threshold for duty-free import of goods from 1,000 euro ($1,111) to 20 euro ($22.2) from July 1, 2018. According to the ministry, this will bring the Russian budget additional 30 bln rubles ($469.68 mln) in 2018 and 60 bln rubles ($939.35 mln) in 2019.

The Ministry of Finance explained that reducing the rate of duty-free import of goods by individuals is being discussed in order to create equal conditions for Russian and foreign retailers.