The Finance Ministry announced “tax changes” to cover companies’ spending on defense and recovery after drone attacks

The Finance Ministry announced “tax changes” to cover companies’ spending on defense and recovery after drone attacks

Russia’s Finance Ministry is working on amendments to tax legislation so that companies’ expenses on defending and restoring facilities after drone attacks can be taken into account, Deputy Finance Minister Alexei Sazanov said on the sidelines of the Moscow Financial Forum.

“As for accounting for expenses on the defense of facilities, on restoring facilities — we are now working together with representatives of various industries on what changes to tax legislation are required. Changes will be needed. I think we will introduce them in the fall,” Sazanov said (quoted by Interfax).

He added that the changes would affect a wide range of industries. Sazanov did not explain what exactly they would consist of.

In late August, Vladimir Putin signed a decree allowing temporary management to be introduced at critical infrastructure facilities whose owners fail to protect them from security threats, including attacks by Ukrainian drones. Later, First Deputy Prime Minister Denis Manturov explained that the decree does not imply nationalization or a change in the form of ownership of enterprises — nor its “mass application.”

@meduzalive