Regions need the power to introduce tax holidays

28 September 2013, Saturday

Dmitry Medvedev, Head of Russian Government, supported the idea of introducing tax holidays for new small businesses at Sochi-2013 international investment forum’s plenary meeting.

“I would like to discuss another idea - introducing tax holidays for new small businesses, particularly in production sectors. This measure has been employed in many countries. Surely, it is connected with the tax evasion risks, and we understand that and discuss that at the Government,” – pointed out Dmitry Medvedev.

However, he suggested that “if we make some sort of decision, a proper monitoring system can minimize these risks, whilst the power to introduce such tax holidays should be given to the regions. I would also like to suggest discussing it here, at the forum, as it considers all the regions,” – the Russian Government’s website quoted Prime Minister’s words.

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