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. Last Updated: 07/27/2016

End to Land Tax Break Is Mulled

The Finance Ministry plans over the next three years to draft proposals on lifting various breaks set in the federal law on regional taxes, with land and property tax break proposals planned in 2013, acting Finance Minister Anton Siluanov said, Interfax reported.

"In the next budget cycle, when we will work on the 2013-15 budget, such proposals will be drafted. This is not a one-off decision, it will be a gradual cancellation of concessions," he said.

The proposals will first of all affect land and corporate property tax, the acting minister said.

"A lot of land is government-owned, especially by the Defense Ministry. By not paying tax there is not even any interest in the inventory of land property, so by introducing even a minimum rate of tax we will stimulate work to analyze the land available and possibly implement part of it," Siluanov said.

The decision to lift the concessions on these two taxes may be taken in 2013, he said.