The Federation Council of the Russian Federation is working on a draft law concerning the withdrawal of state unitary enterprises (SUEs) from the influence of standard tax rates on excess profits.
According to TASS, the initiative is being prepared for implementation by Andrei Kutepov, head of the Federation Council Committee on Economic Policy, following an appeal by St. Petersburg Vice-Governor Alexei Korabelnikov.
According to Kutepov himself, the draft law is at the stage of coordination with the relevant committees and after approval will be submitted to the State Duma for consideration. It is planned that if the bill passes, all SUEs engaged in regulated activities will be exempt from paying 10% tax on profits over 1 billion rubles. According to the accompanying materials to the bill, the savings for Vodokanal of St. Petersburg from tax exemption will amount to 200 million rubles.
The initiators of the bill explain its necessity by the risks of financial shortfall for investment programs of SUEs, which may lead to higher tariffs for citizens.
Recall that earlier St. Petersburg deputies postponed renovation until 2025.