Report: Minister says taxation system needs adjustment to invest

MOSCOW, Jun 7 (PRIME) -- The Russian tax system needs fine-tuning to stimulate investment, but no serious taxation changes are in the pipeline, Economic Development Minister Maxim Reshetnikov told RBC in an interview published Monday.

"The government wants the existing profit to be allocated to investment. Mostly to investment, not consumption. This is why, of course, there are ideas and proposals: Let's destimulate a bit the part that companies withdraw." We are not going to forbid but will raise incentive for investment," Reshetnikov said.

The government is discussing changes in the profit tax that would stimulate investments but will remain unchanged for companies that already invest, Reshetnikov also said.

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