Russian Budget Proposes Property Tax Break for Energy Efficiency

Russian President Dmitry Medvedev's annual Budget Address was posted on the Russian Presidential website yesterday, and amongst the many proposals is one focusing on energy efficiency.

Medvedev proposes that enterprises, which operate energy-efficiently and use energy efficient equipment will be exempt from property tax.

“To introduce new technologies in the economy it is expedient to exempt from the property tax organizations, which operate energy-efficient equipment, for three years since its putting into operation. Since this tax is a regional tax, the introduction of additional federal tax benefits should be compensated by the abolishment of other current benefits,” says the Budget Address.

Medvedev added:

"Our economy is still heavily dependent on raw materials markets. We have yet to create sufficient conditions and stimuli for the introduction of modern technologies on a larger scale, for better energy and ecological security, a more efficient economy, higher labor productivity, the production of high-tech goods and the implementation of innovative projects."


Wednesday 30th June 2010

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