Russian Prime Minister Criticizes Businesses For 'Greed'
Mohammad Ali (@ChaudhryMAli88) Published May 12, 2021 | 08:20 PM
MOSCOW (UrduPoint News / Sputnik - 12th May, 2021) On Wednesday, Russian Prime Minister Mikhail Mishustin called out companies for income withdrawals, stressing that businesses should pay additional taxes for their so-called greed.
"The very same greed, we talked about this today, can be in any person, but you need to pay for that greed with additional taxes and income in favor of the country's budget where these enterprises operate, where these people work. I believe that this is an absolutely justified approach," Mishustin told the lower chamber of the Russian parliament.
According to the head of the government, if a company is engaged in an aggressive withdrawal of income, including dividends, there should be appropriate progressive income tax rates.
Mishustin went on to address the issue of rising food prices, saying that one of the reasons was nothing but the greed of individual producers and retail chains.
"I want to remind you that the government has enough tools to curb the appetites of those who profit from the rush of demand in all spheres," the prime minister said.
In the meantime, Russian Presidential Commissioner for Entrepreneurs' Rights Boris Titov told Sputnik that businesses' goal to maximize profits does not speak of their greed.
"This is the law of the market economy, business always strives to maximize profits. The state must effectively regulate the rules of the game. But this must be done very carefully. If it becomes unprofitable for a business to produce or sell something, it will let go of it," Titov said commenting on Mishustin's statement.
Last December, the government rolled out price caps for staple goods such as sugar and sunflower oil to address the record surge in prices for food.
Related Topics
Recent Stories
HEC reviews curricula for environmental sciences degree programme
ICC Asia looking forward to an action-packed Asia Cricket Week
Yuvraj Singh named ICC Men’s T20 World Cup 2024 Ambassador
Greece hands Olympic flame to 2024 Paris Games hosts
Two Kyiv hospitals evacuating over feared Russian strikes
World must act on neurotech revolution, say experts
Charles & Catherine's cancer diagnoses
Champions Alcaraz and Sabalenka through in Madrid Open
King Charles to resume some public duties during cancer treatment: palace
US defense chief announces $6 bn in security aid for Ukraine
Heavy rains cause damage to Spezand-Taftan railway track
Woman stabbed in Israel, attacker killed: police
More Stories From World
-
Biden stalls on menthol cigarette ban fearing Black vote backlash
8 minutes ago -
Champions Alcaraz and Sabalenka through in Madrid Open
8 minutes ago -
6,000 French police to welcome Olympic torch amid bonus boost
28 minutes ago -
Taiwan hit by several quakes, strongest reaching 6.1-magnitude
48 minutes ago -
'Ballistic' Bairstow stars as Punjab pull off record T20 chase
48 minutes ago -
Tennis: ATP/WTA Madrid Open results - 2nd update
48 minutes ago
-
Junta-led Burkina Faso suspends BBC, Voice of America for two weeks
2 hours ago -
Two Kyiv hospitals evacuating over feared Russian strikes
2 hours ago -
World must act on neurotech revolution, say experts
2 hours ago -
Charles & Catherine's cancer diagnoses
2 hours ago -
King Charles to resume some public duties during cancer treatment: palace
2 hours ago -
US defense chief announces $6 bn in security aid for Ukraine
2 hours ago