- Статьи
- Economy
- Investment and subtraction: the authorities want to expand the list of industries for investment benefits
Investment and subtraction: the authorities want to expand the list of industries for investment benefits
The authorities want to expand the list of industries that can receive the federal investment tax deduction (FINT) for businesses. The initiative was supported by the relevant commission of the State Council and sent it to the Cabinet of Ministers for consideration, Izvestia learned. Now the deduction allows to reduce the federal part of income tax for power engineers, metallurgists, telecom and scientific organizations. Experts note that among the potential new recipients of benefits may be retail, the agro—industrial complex and pharmaceuticals, industries that demonstrate profitability and at the same time actively invest in expanding production. The issue of FINA adjustment was discussed at the meeting of the President with the government on June 10. How the FINV program will develop and how it will affect business investments is described in the Izvestia article.
What effect can the measure have on the economy?
The State Council's Commission on Investments supported the idea of expanding the list of industries for the federal investment deduction. The proposal was sent to the Cabinet of Ministers for consideration, follows from the minutes of the meeting of the commission dated March 18, which was reviewed by Izvestia.
The Ministry of Industry and Trade told Izvestia that the agency is ready to consider the possibility of expanding the list of industries for financial cooperation with interested ministries. The Ministry of Economic Development noted that they are monitoring the use of financial instruments in order to fine-tune the mechanism.
Currently, the expansion of the possibilities of using financial instruments to create investment-attractive conditions for individual macro-regions is being discussed, the Finance Ministry told Izvestia. The proposals are being worked out jointly with the relevant departments, they added.
The fact that the FINV can be adjusted was discussed on June 10 at a meeting between Russian President Vladimir Putin and the government.
Izvestia sent inquiries to business representatives.
The federal investment deduction is a mechanism that allows organizations to reduce income tax by the amount of capital investment costs (purchase of equipment, construction, modernization). The deduction has been applied since 2025 and is designed to encourage businesses to invest. The financial contribution makes it possible to reduce the federal part of income tax and is formed from the funds that the company has invested in production. The income tax rate is 25%, of which 8% goes to the federal budget and 17% to the regional budget. The maximum deduction from the federal part today is 3%. The mechanism can be used by energy companies, mining and manufacturing industry organizations, hotels, telecommunications companies, research organizations and catering, as well as companies whose activities include data processing and the provision of information hosting services.
According to Dmitry Tortev, a member of the expert council of the State Duma Committee for the Protection of Competition, the revision and expansion of industries with access to financial services are really relevant today: companies are actively investing in the expansion and modernization of production in many neglected areas of the economy. Among the profitable industries that are scaling up, developing new infrastructure and expanding product lines are retail, agribusiness, and pharmaceuticals, the expert noted. According to him, the justification for their inclusion in the updated list of financial institutions should be their current financial situation.
A source in government agencies confirmed to Izvestia that these industries are indeed considered among the possible recipients of investment benefits.
How much can the deduction amount be increased?
At a meeting with the Cabinet of Ministers on June 10, Russian President Vladimir Putin noted that a period of "investment restraint" had begun in the context of measures taken against inflation. The government members and business representatives present agreed that the deduction for financial assets should be increased, and the coverage of industries should become broader.
Following the meeting of the State Council commission, it was also proposed to allow the reduction of the federal part of the income tax under the Financial Act to zero, that is, in the amount of 8%.
During the meeting with the president, Deputy Prime Minister Alexander Novak came up with a more cautious initiative - to increase the deduction not to 8%, but to 5-6%, noting that the mechanism is not being used to its full potential. As Izvestia wrote, in 2025, the business mastered only 26 billion rubles out of 150 billion planned. Finance Minister Anton Siluanov confirmed that the volume of financial assets in 2026 will be twice as much as last year, and did not object to the additional adjustment of the instrument. Alexander Novak proposed to conduct an audit of the suspended investment projects and create a register of 50-100 objects for point support "in manual mode."
— When finalizing the draft law on the expansion of financial resources, it is advisable to differentiate the approach: for industries with high margins, the deduction may be linked to counter—obligations in terms of investment volume, and for low-margin but strategically significant ones (for example, waste disposal, woodworking), a maximum compensation threshold can be provided to compensate for the objective shortage of own funds, - Dmitry Tortev believes.
According to Georgy Ostapkovich, scientific director of the Center for Market Research at the Higher School of Economics, the expansion of industries for FINV will be positively perceived by businesses, since any tax reduction is a plus for enterprises.
— From the point of view of business and economics, this is the right and fair decision. The money received can be used for investments. This will give industries opportunities to expand, make profits, and in the future businesses will pay more taxes. This will mainly affect large businesses, but they contribute the bulk of GDP. Our small and medium-sized enterprises account for only 22% of GDP. The share of large business is 78%, and it remains the main supplier of taxes," the expert said.
On the other hand, according to the economist, the key interest rate remains too high, and therefore those whose loans are subsidized by the state will invest.
According to Yaroslav Kabakov, Director of Strategy at Finam IC, the initiative to zero the federal part of income tax and expand industries is a logical strengthening of the investment incentive policy with a bias towards large companies, but the budget carries certain risks.
— In fact, this is not a "benefit", but a postponement or redistribution of budget revenues in exchange for capital investments. The risks to the budget are obvious: in the short term, the loss of federal income tax revenues is inevitable. The payback effect is possible only through increased investment and an expansion of the tax base in the future, but it is not guaranteed and depends on the quality of the mechanism settings, he said.
It is advisable to expand the financial sector primarily in industries with a high investment multiplier and an already launched wave of modernization: the production of equipment and components, machine tool construction, logistics infrastructure, deep processing of raw materials and the agro-industry, he noted. Otherwise, the benefit risks turning into subsidizing existing investment programs without a real increase in investments, he added.
If the initiative is adopted, the federal budget may not receive part of the tax revenues, since the application of the deduction leads to a reduction in the tax base of companies, Georgy Ostapkovich agreed. Such measures can increase uncertainty for market participants and create new risks in long-term planning, said Andrei Loboda, an economist and top manager in the field of financial communications. In his opinion, it is primarily important for businesses to maintain a stable taxation scheme and formula.
— This is what businesses need first of all, both small and large, in order to plan the implementation of investment programs against the background of a stable strong position of the ruble, with a smoothly softening monetary policy. There is no need for sudden and unpredictable changes in the scale of taxation, either in one direction or the other," he explained.
At the same time, the expert noted that if the initiative is consolidated on a long-term and predictable basis, it can be evaluated positively.
Переведено сервисом «Яндекс Переводчик»
