How the state will help Russians: taxes, roads and employment

How the state will help Russians: taxes, roads and employment

How the state will help Russians: taxes, roads and employment
The State Duma will consider a number of amendments to the legislation aimed at the support of the citizens and businesses in the new reality.  Information about this was published by parliamentarian Vyacheslav Volodin.  Previously, relevant initiatives were proposed by the Government.

Amendments to the tax legislation are expected.  If all of them are accepted, the citizens of the country will stop paying income tax on bank interest on deposits for this and last year (the tax on interest on deposits over 1 million had been introduced even before the regulator increased the key rate several times).
The State Duma can exempt many owners of ‘expensive’ cars from the obligation to pay transport tax if the amount of the vehicle does not exceed 10 million rubles.
Previously, this threshold was 3 million rubles, but in the face of changes in the foreign exchange market, a car at this price has ceased to be a luxurious one.

It is also planned that IT companies will be exempt from income tax in the next three years (from 2022 to 2024).  The hotel business will also be exempted from paying VAT for a period of five years.  In conditions when foreign resorts turned out to be inaccessible for the majority of Russians, the Government hopes to support the HoReCa sector with tax breaks.

The package of proposed amendments includes a project for medicine.  It should significantly facilitate the penetration of the foreign-made medicines into the Russian Federation.  The deputies will consider the possibility of selling them in their ‘native’ packaging (labels in Russian in this case will be enough).
The most significant changes concern the transport industry.
 Deputies may restrict foreign ships in the use of Russian ports.  For Russian firms, registration of rights to foreign airliners received on lease may be allowed.  It is proposed to simplify the issuance of domestic certificates of aircraft airworthiness, as well as to provide a delay in the certification of equipment in ensuring its safety.

Earlier, the Head of the Government specified that more than 1.042 trillion rubles would be allocated to support the economy.  According to Izvestia, the bulk of the money will be spent on social support and stimulation of employment of the population (496 billion), support for transport (275 billion), housing and communal services and the construction sector (99.8 billion).  Almost 85 billion should be received by backbone organizations and 42 billion by businesses engaged in the agricultural sector.

11.03.2022