Putin: Russian Business Should Be Freed From Obsessive Contro

During his address to the General Assembly on Wednesday Russian President Vladimir Putin stated that Russian business should be freed from obsessive control.

MOSCOW, December 4 (Sputnik) — Russian President Vladimir Putin stated Thursday that it is necessary to lift restrictions for Russian business, freeing it from obsessive control.

“As many barriers as possible for business need to be removed, it should be freed from obsessive control and oversight,” Putin said in his annual address to the Federal Assembly.

“I propose the following measures: each inspection should become public, next year a special information register will be launched for this… It will allow to cut unmotivated or ordered visits of inspectors, which is even worse. I should add that this problem is relevant not only for business but also for budget, local government agencies,” Russian president said.

Putin added that the new register will contain information on the regulatory body that launched the inspection, the reason for the inspection, as well as the results obtained.

According to the Russian President, the very principle of excessive control over the businesses should be abandoned, the inspections should only be held where there are the signs of law violations. Putin noted that small businesses that have proved themselves to be law-abiding should be freed from inspections for a three-year period.

Russian Government Must Make Decision in 2015 to Lower Control Over Business

Russian President Vladimir Putin urged the government on Thursday to limit business controls in 2015 and give incentive tax exemptions to companies, including two-year tax benefits to new businesses.

“The government needs to make all of the necessary decisions in 2015 to switching to such a system… to a system of limitations,” Putin said during his annual state of the nation address to the parliament.

The president proposed that all business checks be made transparent and public, and small businesses starting from scratch get a two-year tax exemption.

“We need to put into practice the previously made decisions to ease the tax burden, first of all for those who are just beginning their work. As was agreed, small businesses that register for first time will have a two-year tax exemption,” he said.

Vladimir Putin also called for a four-year freeze on current tax rates and a “full amnesty” for capital returning to Russia in a move to repatriate billions worth of assets stored in offshore tax havens. He stressed however it would be a one-off offer. Putin’s aide Dmitry Peskov noted that Russian businesses that might be caught sheltering taxes past a certain date could face punishment.

The address comes as the Russian economy begins to feel the impact of the Western sanctions that were imposed on Moscow in the wake of Crimea’s secession and the start of a crisis in eastern Ukraine. Russia’s Economic Development industry warned of recession in 2015 amid calls on the nation to brace for hard times ahead.