MOSCOW, October 2 (RIA Novosti)
The Russian government will make changes to tax legislation to ease foreign investment and spur the country’s economic development, President Vladimir Putin said on Tuesday.
“We’ll make changes to the tax law, we understand this,” Putin told the fourth Russia is Calling investment forum, sponsored by VTB Capital, part of the country’s second largest bank VTB.
Putin responded to a question about whether the government intended to simplify legislation for investors, after the latest tax changes significantly complicated investment procedures.
Heavily reliant on raw material exports, primarily oil and gas, Russia has been pushing for economic diversification for two decades, trying to promote more complex production with greater added value.
The strategy has been heavily reliant on attracting private, particularly foreign investment, with the government seeking to reduce the size of its presence in the economy.
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We have witnessed the total defeat of western Ukraine, Western nationalists and the West in general, which made the unfortunate decision to support the anti-government activity. They failed to realize that the collapse of Yanukovych means the collapse of Ukrainian unity. They set fire to their own home and planted a time bomb under Ukraine’s territorial integrity.