Putin says govt can get 1.2 tln rbl income from tax changes

MOSCOW, May 8 (PRIME) -- The Russian government hopes to receive 300–400 billion rubles of additional income from each of the planned small systemic tax changes to total 1.2 trillion rubles, President Vladimir Putin told the State Duma, parliament’s lower chamber, on Tuesday.

“There are so called general systemic measures, I will not list them now, they are small but we hope to get 300–400 billion (rubles) from each of them, in general, 1.2 trillion,” Putin said.

He said that the government will get part of an additional 8 trillion rubles required to fulfill the 2024 strategic development goals he set forth on Monday from economic growth and fine tuning of the taxation system.

“How can we find the additional resources of at least 8 trillion to fulfil the goals set in the orders? First, we think, by ensuring economic growth, including with your support of the corresponding decisions,” Putin said.

“Secondly, we surely will be watching very attentively the macroeconomic policies without violating macroeconomic stability. We must look at the taxation system absolutely attentively.”

According to Putin, Russia must not isolate itself because its oil, gas, metals and petrochemical industries are incommensurable with the domestic market volume.

Putin said that Russia is unwelcome on the global markets but must fight to gain a position. “We are unwelcome on global markets, that is true. This does not mean that we must forego this, on the contrary, we must fight. By promoting our goods on the international markets, we make them competitive, which means that we raise the quality of products inside the country.”

Russia will continue to diversify the structure of its foreign currency reserves, he also said.

The Russian economy must become independent from the U.S. dollar as its monopoly is shaky and dangerous, Putin said.

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