Companies proposed to increase the budget for investment deductions to 200 billion rubles

It should be noted that this will increase the efficiency of FINV and support the investment activity of companies.

President of Business Russia Alexey Repik sent a letter to Chairman of the State Duma Committee on Budget and Taxes Andrei Makarov. Makarov’s representative acknowledged receipt of the letter.

In conditions of increasing income tax burden and high credit costs, it is extremely important that the FINV mechanism works immediately, Repik noted. The president of the employers’ association also recalled that companies supported the increase in corporate income tax in the hope that the Financial Income Tax Fund will become a full-fledged deduction.

At the same time, the reduction of the investment deduction to 3% of the investment amount leaves companies with doubts that the limit of 150 billion rubles provided for in the federal budget will be fully used, the statement states. letter.

Business Russia’s position was supported by the president of the Russian Union of Industrialists and Entrepreneurs, Alexander Shokhin. He said companies consider FINV to be a pilot experiment that should be tested in 2025 and completed in 2026, without waiting for the three-year period to end.

• The government has proposed introducing a federal investment tax deduction for companies making investments to offset the increase in the income tax rate from 20% to 25% starting January 1, 2025. The amendments to the Code Tax regulations establish that the FIN rate cannot exceed 50% of the costs of fixed assets and intangible assets.
• Initially, the Ministry of Economic Development proposed setting the FIN at 25% of the investment amount, expanding the benefit to projects related to technological sovereignty. After consulting with the companies, the deduction parameters were reviewed. One of the last options considered suggested a 6% deduction, but the final option was capped at 3%, the publication notes.

The companies also opposed the extension until 2030 of the 50% limit for compensation of taxpayer losses incurred in previous periods. This measure, according to Delovaya Rossiya and the Russian Union of Industrialists and Entrepreneurs, has a negative impact on the growth of business activity. Shokhin noted that the government should develop a plan to gradually lift this restriction.

Since the beginning of 2017, this restriction applies to all taxpayers, except those who use benefits. The measure was introduced with the aim of increasing regional income, but, according to experts, it forces companies to pay taxes on profits that they do not actually have, creating additional difficulties for companies.

From January 1, 2025, amendments to the Tax Code will come into force, leading to large-scale changes in corporate and personal taxation. Yulia Kalinkina, head of the tax advisory department of the NEO consulting firm, told RB.RU about the innovations.