27 Dec 2022 14:43

No plans to change tax rules in 2023 even in event of revenue problems - Siluanov

MOSCOW. Dec 27 (Interfax) - The Russian Finance Ministry does not intend to propose changing tax rules next year, even if there are revenue problems, Finance Minister Anton Siluanov said at his year-end briefing.

"We certainly don't change the rules of play in the course of a year. We can only talk about subsequent budget cycles, but it seems to me that the main tax innovations have been implemented. If there are problems with revenue, will we make tax amendments next year for 2023? No, we will not. The budget has been adopted, the main tax policy guidelines too, and we will act within them," he said.

Deputy Finance Minister Alexei Sazanov has said the MinFin would continue its analysis in 2023 to identify potential resource sectors for a targeted increase in the fiscal burden, avoiding major changes in the basic parameters of the tax system. "While we have found sources for the next three years, now the question of the need and the search for new sources depends whether there will be new spending obligations or not. We will look at the results of 2022, we'll see after IFRS reporting is carried out for 2022," he said.

"Due to the fact that we have resource sectors where we can seek additional taxes, in general, we can keep the basic parameters of the tax system fairly stable, that is, most companies operating in Russia do not experience an increase in the tax burden. I'm talking about VAT rates, profit tax, personal income tax," Sazanov said.

He said that in 2022 this was oil and gas, fertilizers, the coal industry. "And what will happen next year - we need to see how the global situation unfolds. Now we have managed to find a balanced solution that, on the one hand, uses the tax potential, and on the other hand, provides the necessary margin in the economy to maintain operating and investment activity," Sazanov said.