Blagodat Securities: Tax Relief Proposal for Energy Companies Stems from Their Poor Funds

4 August 2011 (09:01)

Tax reliefs stimulate consumption, whereas it would be better for Sverdlovsk Region Duma to stimulate investment. The idea that a tax relief would give enterprises a chance to reproduce its funds more rapidly sounds dubious,’ Blagodat Securities Investment Company’s Director-General Vsevolod Chaschin told UrBC.

Now the energy sector enterprises based in Yekaterinburg might be offered tax reliefs. This will involve Enel OGK-5, OGK-1, OGK-2, and TGK-9. The initiative was proposed by Sverdlovsk Region Government’s Taxpayers Petitions Committee.

I believe the initiative results from the terrible state of the funds belonging to OGK-5 Sredneuralskaya and Reftinskaya power stations, OGK-1 Verknetagilskaya power station, and OGk-2 Serovskaya power station, to say nothing of TGK-9 gross assets. The initiative per se sounds good, but the way of its implementation looks questionable,’ Chaschin says.

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