Russia needs a decisive “tax manoeuvre” and should consider optimizing the taxes that determine qualitative economic growth. “We need a modern structure of the tax system,” said Prime Minister Vladimir Putin at the anniversary conference of the national business association Delovaya Rossiya.

He asked the Economic Development Ministry and the Finance Ministry to draft proposals on adjusting the fiscal policy for Russia’s industrial development. The calculations should take into account Russia’s accession to the WTO and the prospects of integration projects, such as the Common Economic Space and the Eurasian Union, Putin added.

Russia may avoid raising taxes if oil prices remain high and the growth pace of state spending doesn’t increase, said Deputy Finance Minister Sergei Shatalov. The decisions on a significant increase of taxes in 2012 have already been made; the increase will apply to excise taxes and the mineral tax, he said. These moves, however, “do not have a big impact on economic activities and on taxation of the population.” Russia has already reached a level where it shouldn’t raise taxes further, Shatalov concluded.