Updated tax system should be set for long term - Putin

MOSCOW. April 25 (Interfax) - Updated tax system envisaging a fairer distribution of the burden on taxpayers should be set for the long term, Russian President Vladimir Putin said.

"Further adjustment of the tax system should become another important step to improve the investment climate. The government is now working jointly with business and public associations, Russian regions and parliament on this highly important issue. They are discussing the parameters of changes [and] preparing corresponding proposals. I repeat, the updated tax conditions should be set for the long term," he said at a congress of the Russian Union of Industrialists and Entrepreneurs.

Modernizing the tax system should ensure the fairer distribution of the tax burden while stimulating businesses, which develop and invest, including in infrastructure and social and personnel projects, the president said. "It is necessary to ensure stable and predictable conditions for the reliable, confident work of businesses," he said.

Russian Finance Minister Anton Siluanov said earlier on Thursday that there are plans to discuss specific proposals on changes to the tax system in the middle of May so that parliament can consider the corresponding bills during its spring session.