Russian govt, business plan to discuss proposals for additional adjustment to tax system in mid-May; implementation in spring session - Finance Minister Siluanov

MOSCOW. April 25 (Interfax) - Specific proposals for updating the tax system will be discussed with companies and parliament in mid-May, Russian Finance Minister Anton Siluanov said.

"We plan to discuss specific proposals in mid-May, and to discuss the proposals with business and parliament in order to prepare the relevant draft legislative acts and implement them in the spring session. This is our plan from the point of view of updating the tax system," Siluanov told the Russian Union of Industrialists and Entrepreneurs (RSPP) convention.

Siluanov did not provide any details on the planned innovations when speaking to the RSPP convention, only repeating the baseline criteria for adjusting the tax system, namely a more equitable distribution of the tax burden, closing loopholes, and providing for growing budget expenditures.