MOSCOW, October 17 (RIA Novosti) - President Vladimir Putin proposed Tuesday granting tax benefits for research and development work.
As the Russian economy develops and benefits from rising world oil prices, the government of Russia is making an effort to reduce the country's dependence on raw material exports and stimulate high value-added production.
"The tax system still fails to stimulate the production of high value-added products. There are virtually no benefits for research and development," Putin told a session of the Russian President's Council on Science, Technology and Education.
Putin said tax policy should stimulate innovation.
"Tax policy requires approaches that will stimulate innovation as a whole," the president said.
Putin said these approaches should include a system of charging indirect taxes and further development of a uniform social (payroll) tax.
"We need absolutely transparent models that rule out any "gray" schemes of tax evasion under the guise of innovation," Putin said.
