The relationship between business and the...
said at the forum.Another reason for business" lukewarm attitude to infrastructure projects is the global economic downturn. Russian companies lack funds for such projects and are not prepared to invest in projects with recoupment periods of 15-20 years, which entail high economic and political risks.
Indeed, modern Russia is widely different from the country it was 20 years ago, when ownership rights were only mentioned in history textbooks.
Another factor hindering long-term investment is tax legislation. On the one hand, profit taxes in Russia are lower than in the EU and other countries: 20% compared to 33% in China (15% in free economic zones), 35% in India and 34% in Italy. But this advantage is neutralized by Russia"s complicated system of fiscal administration and selective use of law during economic disputes.
Weakness of the state and widespread corruption also discourage investment in infrastructure. Rampant corruption at all stages of
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