Oreshkin explained the Medvedev’s idea about new tax credit

New exemption for the profit tax, the introduction of which was announced by Prime Minister Dmitry Medvedev, should contribute to “structural changes in taxation,” said the head of the Ministry Maxim Oreshkin

“The main task — the structural changes in the tax and improving cash flow for companies that invest. Shift the tax burden towards more recent periods will stimulate greater activity and investment achieve higher economic growth,” said Oreshkin, answering the question of RBC during the Krasnoyarsk economic forum.

The Minister did not disclose specific details of the proposal, saying only that they will be “studied and discussed”. “So what kind of specific form to speak still early” — he concluded..

About the new tax credit Medvedev said during his report to the state Duma on April 19. We are talking about reducing the profit tax from the current 20% to 5%, if the company invests in the modernization of production and high-tech equipment. “Another observation: you would think that part of this benefit was required due to Federal income tax. This would affect agriculture and the manufacturing industry. But this is only a proposal,” — said the head of government.

Oreshkin said earlier that investment growth is the basic idea of the plan of the government to accelerate the pace of economic growth until 2025. The head of the Board of the Center for strategic development Alexey Kudrin noted that investment can be a driver of GDP growth only in the next few years, and then to the fore should get a performance boost.
Exemption for the income tax already operates in the framework of regional investment projects (RIP) and territories of priority development (tpd). At the same time, Finance Minister Anton Siluanov said that the incentives and preferences should not “perforate” the budget.

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