Putin considers interesting RSPP proposal to allow NPF to participate in privatization

Putin considers interesting RSPP proposal to allow NPF to participate in privatization

MOSCOW, February 15. The question of the participation of non-state pension funds (NPF) in privatization need to be worked out, but overall this idea deserves attention. This was stated by the President of the Russian Federation Vladimir Putin at a meeting with the head of the Russian Union of Industrialists and entrepreneurs (RSPP) Alexander sechinym.

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To lead RSPP expressed the view that the participation of NPF on market conditions in the privatization will provide the social orientation of the process.

“Of course, the participation of pension funds in the privatization process, of course, also in demand and can be fun,” agreed Putin. According to him, this issue “need to study”. “But overall… this is a long-term investment, despite the current market conditions and the funds may be, current situation and good: you can enter at a lower price and have the opportunity growth prospects”, – said the head of state. “In General, this idea certainly deserves attention,” concluded the President.

Justifying his proposal, Shokhin noted that if the privatization will involve “some major business organizations”, had already zadeystvovany in this process, “questions may arise”. “But if you will be participating pension funds, if we are not going to freeze the cumulative part of the pension and also let her in this process, the fact that now not the high price (although, of course, for the current budget problems it’s not great), the long term can give very good result in the improved sustainability of the pension system”, – said the head of RSPP.

Shokhin has reminded that the similar idea has been suggested in the midst of the crisis in 2009, but then were found other opportunities. “Now it seems to us that linking privatisation with pension reform strategy is very profitable and in social terms, the scheme, and the business as a minority partner could participate in such structures. At the same time could be involved and foreign sovereign wealth funds on the line, for example, the Russian Fund of direct investments”, – said RSPP President. He concluded that the NPF, in his opinion, the plan “can be very effective (tool) not only for 2016, but in the medium term”.

The law on non-tax payments

In addition, the head RSPP has told to the President about the proposal of the Union to prepare a special law on non-tax payments . “It was decided that the administration of non-tax payments will be centralized under the auspices of the Federal tax service. But we would like to on non-tax payments in General, not only on customs or insurance, had been enacted into law. We saw in the draft anti-crisis program, a point the government has, we support that,” said Shokhin.

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In response, Putin called it an interesting proposal, but it requires elaboration. “Carefully, of course, to deal with this. Know that the Finance Ministry supports the idea of systematization of non-tax payments, and this requires special attention, of course, from the government and the business community. I hope that in this direction you will work together, as already established the practice of working on such issues of interest to the business and belonging to this sphere”, – said the President.

According to Shokhin, in such special law “would define the principles of non-tax payments – not only administration, but also principles of functioning of this system”. He added that, in the opinion of the business community, they should be docked with the Tax code. “But still should be a separate law in the Tax code that wouldn’t be right to include, because the Tax code more stringent liability system for non-tax payments, a lot of us administrators”, – said Shokhin.

The head of the RSPP also expressed the opinion about necessity of creation of a registry of non-tax payments. Also need common principles, such as the establishment of tax payments, the rates of these payments prior to the beginning of the financial year, i.e. before January 1, “all decisions must be taken, preferably even before the budget, as is customary for taxes,” said Shokhin.

“In addition, we would like to and the principles of administration such as, for example, consultation or a pre-trial appeal certain decisions were set out in the law”, – concluded the head of the RSPP.