Alexander Korshunov, "One can unequivocally say that reducing the tax burden gives a positive result"

Parliamentarians at the plenary session adopted in two readings amendments to the law "On Corporate Income Tax". They provide for a reduction in the tax burden for a number of industries and activities of industrial enterprises. Reduction of tax rates is provided, for example, for the branches of ferrous metallurgy, chemical industry. The law-in-draft also proposes to change approaches in the taxation system, rationally redistribute the tax burden on enterprises.

At the end of the plenary session, the chairman of the parliamentary committee for economic policy, budget and finance, Alexander Korshunov commented on the decision of fellow parliamentarians:

"Since 2013, we talked about the fact that we have exorbitant tax burden on the production sector of the economy. Therefore, deputies developed a number of initiatives aimed at supporting industrial enterprises. The previous Government did not always agree with us, but some of the laws were adopted by the Supreme Council in 2014, 2015, and overcome presidential veto.

Today, summing up the results of the work of economic entities, we can unequivocally say that reducing the tax burden gives a positive result. A number of jobs has been saved and increased. Moreover, with a reduction in the corporate income tax rate, payments to the budget have not decreased. This is a good trend.

We count on the adoption of the law-in-draft today, that next year the change in the norm of the law will allow expanding the tax base, sales markets and increase revenues to the budget. I want to emphasize: this measure will affect all production branches.

Work on the law-in-draft was conducted for eight months, calculations were carried out. The document was adopted by the Supreme Council in the government's version, we agreed to 99% of the proposed rates. For example, shoemakers always pointed out that for them the stakes are too high. Its reduction will allow the industry to stay afloat, develop, and be competitive.

According to the calculations of specialists, a reduction in the tax rate may help to ensure that the budget will lose less than 27 million rubles. We are more optimistic on this issue and suppose that tax revenues in the state treasury will not decrease. If there is a need, following the results of the first half of 2018, we can return to the discussion of the issue".