News Post
Belousov's super-profit tax initiative: reaction from ministries, business
On July 28, 2018, President Vladimir Putin "agreed" on the letter of Assistant Andrei Belousov: he suggested considering the withdrawal of super-profits from metallurgists, miners and chemists - for 14 companies to increase taxes and receive 513.66 billion rubles.
Russia’s Economic Development Ministry does not support Russian presidential aide Andrey Belousov’s proposal to increase taxes on the mining and chemical sectors, a ministry source said on Thursday, according to Kommersant.
“The Economic Development Ministry does not support Belousov’s initiative,” a source told TASS news agency.
The initiative, to tax windfall incomes from Russian mining and chemical sectors ,would lead to defaults of certain companies and slow down GDP, the Russian Union of Industrialists and Entrepreneurs warne.
Petrochemical company Sibur is prepared to consider investing in infrastructure for its future projects as part of the initiative of Kremlin aide Andrei Belousov to get major private Russian companies to invest in state infrastructure projects, the firm's CEO, Dmitry Konov told reporters.
"There are some things that have caught our interest. For example, we understand how our new polymer production facilities will develop, approximately in what directions products will go. We understand that there are logistics areas where the infrastructure itself is not fully developed for the volumes that we need," Konov said. "We see a logistics center project in this region that is part of the Transport Ministry's program. We say that maybe we're interested, let the Transport Ministry tell us what exactly they want to do. Instead of us investing only in ourselves or contracting product handling and packaging fa-cilities from someone, let's, perhaps, we invest in it. Our products will take a large share and we'll still be able to provide services to someone else,"
Sources: Rusletter, TASS, Interfax, Russia Business Today
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