MOSCOW, July 3 (RAPSI, Maria Petrova) - Companies providing their employees with vacation opportunities in Russia could be exempt from corporate profit tax, the official website of the lower house of parliament announced Thursday.

In a bill submitted to the State Duma, members of the Liberal Democratic parliamentary party Vladimir Taskayev, Viktor Sobolev, Sergei Marinin and Kirill Cherkasov are proposing amendments to the tax code. Currently, the tax code lists organizations that have been exempted from paying profit taxes. The new bill extends the list to companies that cover travel costs for employees who spend vacations with travel destinations in Russia.

The authors of the initiative believe that this would provide workers with additional social benefits and improve the travel and resort industry in Russia. The deputies say the bill would increase tax revenue due to increased travel agency sales.