Russian Union of Industrialists and Entrepreneurs: due to the global tax reform, business in Russia may be left without preferential regimes
The global tax reform, which involves the introduction of a single tax rate for corporations of 15 percent, carries risks for Russian business. He may be left without preferential income tax payment regimes. This is reported by RBC with reference to the position of the committee of the Russian Union of Industrialists and Entrepreneurs (RUIE).
Russia has joined the plans for global tax reform and is among 137 signatories of this initiative. “Regardless of their participation in the global reform, Russian groups will still fall under its influence in other countries of their presence. Russia will not be able to protect the interests of Russian business if it refuses to participate in the reform, ”the RUIE noted.
The organization called it a problem that preferential taxation regimes with tax rates of less than 15 percent could be abolished altogether. This will jeopardize investment projects, then the state will have to prepare alternative mechanisms of state support (for example, subsidies), experts say.
Another problem is the distribution of profits between countries. An effective mechanism will be needed to resolve disputes, but in Russia it is “very poorly developed, which will limit the ability of taxpayers to protect their interests.” corporations.