Vladimir Putin made several important statements for the business sector at the SPIEF. The president announced a federal deduction for investment, linking the minimum wage to the average wage, and the transfer of land for the elimination of landfills on them. We talked about the proposals of the head of state.
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At the plenary session of the St. Petersburg International Economic Forum, Vladimir Putin made a number of important statements for business and announced several innovations.
Federal investment deduction
The President commissioned to determine the parameters and volumes of the federal deduction for investments, whose task will be to stimulate companies to invest in their development.
“I ask the government to ensure that the deduction can be applied not only within one company, but also within a group of companies,” Putin said.
In addition to regional deductions, the use of which is proposed to be expanded, the federal deduction will be introduced.
Link the minimum wage to the average wage
From 2025, the minimum wage will be correlated with the average wage and will amount to 48% of the average wage. Currently the minimum wage is set at 19.2 thousand rubles; in 2025 it will exceed 22 thousand rubles.
The average nominal salary in Russia in 2023 was almost 74 thousand rubles; in 2022 it increased by 14.1%.
Set income tax for IT companies at 5% until 2030
The president proposed reducing the tax on IT companies to 5% for the period from 2025 to 2030. The President also ordered the development of additional measures to support IT companies. One of the support measures is the opportunity for new companies to participate in public procurement.
Transfer of land to business ownership for landfill removal
Putin proposed transferring ownership of the land to companies free of charge for the liquidation of the garbage dumps where they were located. The president asked the government to consult with Russia’s regions on this initiative.
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
