Russia’s Finance Ministry announces ‘tax changes’ to cover companies’ defense and drone-attack recovery spending
Russia’s Finance Ministry is drafting changes to tax legislation that would account for companies’ spending on defending and repairing facilities damaged in drone attacks, Deputy Finance Minister Alexey Sazanov said on the sidelines of the Moscow Financial Forum.
“When it comes to accounting for spending on defending facilities and on restoring facilities, we’re now working together with representatives from various industries to determine what changes are needed to tax legislation. Changes will be needed. I think we’ll submit them this fall,” Sazanov said, according to the Russian news agency Interfax.
Sazanov said the changes would affect a wide range of industries but did not specify what they would entail.
Vladimir Putin signed a decree in late August allowing the government to impose temporary management on critical infrastructure facilities whose owners fail to protect them from security threats, including attacks by Ukrainian drones. First Deputy Prime Minister Denis Manturov later explained that the decree does not involve nationalizing enterprises or changing their ownership, nor does it envision “mass application.”
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