After export duties were introduced, a number of Russian companies paused projects covered by the investment protection and promotion agreement. This development was confirmed by Alexander Shokhin, who chairs the Russian Union of Industrialists and Entrepreneurs, in a report for RBC.
Shokhin noted that the October rise in export taxes significantly altered the financial burden, prompting many companies to halt their SZPK projects. The stance highlights how tax changes can ripple through private investment plans and project timelines, creating uncertainty for business leaders and investors alike.
According to Shokhin, SZPK lacks a stabilization clause that would shield companies from export tax fluctuations. The RSPP is actively seeking government concessions to soften the measures and to extend stabilization so it would cover the entire financial burden. However, the Ministry of Finance reportedly resists this move, arguing that a stabilization clause was not included initially and should not be expanded beyond the current compromise. This friction reflects broader debates about fiscal policy, investment risk, and the protection of business commitments in a shifting tax environment. (RBC)
Earlier, the RSPP voiced concerns in connection with the draft localization law targeting taxi fleets. A letter was sent to Vitaly Savelyev, the head of the Ministry of Transport, and to regional transport ministers, expressing worry that imposing localization requirements would complicate the purchase of new vehicles and raise costs due to limited availability. The objection underscored how policy design could influence capital expenditures, supplier choices, and the speed at which taxi fleets can scale. (RBC)
There was also public discussion that the State Council of Russia had expressed support for a bill authorizing the government to require taxi operators to use domestically produced cars. The potential shift would align with broader localization ambitions and economic protection measures, though it also raised questions about market competition and consumer choice in the transport sector. (RBC)
In prior times, industrialists in Russia criticized the current form of the excess profit tax system, arguing that the rules did not adequately reflect reality on the ground and created distortions for manufacturers and investors alike. The dialogue surrounding these fiscal instruments remains ongoing, with industry groups pushing for clearer guidelines, predictable taxation, and mechanisms that minimize abrupt financial shifts while sustaining long term investment and growth. (RBC)