The session titled Fiscal and Tax Policy as Factors Affecting Economic Growth will take place within the SPIEF Business Programme.
The session participants will discuss the prospects for changing Russian tax legislation, ways to improve the efficiency of budget expenditures, and will also examine the issues of finding the proper balance of the tax system that is efficient for both business and the state.
The end of 2017 signalled a turning point for the Russian economy, which re-emerged on a trajectory of sustainable growth. This success in partly attributed to stable and predictable monetary and credit policies that are of fundamental importance to investors, the business community and the regions. At the same time, Russian tax system is in need of change that will ensure a balance between the stability of the budgetary system, fulfilment of state’s social obligations, and the stimulation of economic growth.
Andrey Makarov, Chairman of the Committee on Budget and Taxes of The State Duma of the Russian Federation commented on the need for change: “The tax system today is efficient at replenishing the budget, but it does not stimulate further economic growth. Current legislation often does not take into account modern-day potentials, including those within the digital economy”.
Anton Kobyakov, Adviser to the President of the Russian Federation noted: “The objective of the state is to nurture the upward trend, to ensure the contribution of all economic agents to the development of the economy. It is of the utmost importance that the changes in legislation meet the objectives of the tax system’s balanced development, which in turn will foster sustainable growth.”
For more details on the programme visit forumspb.com