MOSCOW, July 7 (RAPSI) – Yevgeny Fyodorov (United Russia) from the State Duma Tax Committee has proposed delaying the enforcement of new taxes (excluding excise taxes and VAT on Russian goods) by seven years from their official publication date, RIA Novosti reported on Tuesday.

Fyodorov said the bill would help implement the presidential instructions on fixing tax rates for four years.

This provision has been included in the law on foreign investment, the law on capital investments, and several other laws that protect investors from sudden changes in legislation for the duration of an investment project.

However, applying these guarantees only to investment projects may be inadequate under the current economic situation, considering the foreign sanctions and the global economic decline.

The bill would amend Article 3 of the Tax Code (fundamental provisions on taxes and duties) to stipulate that the laws that change federal tax rates (excluding excise taxes and VAT on Russian goods) only become effective seven years after being officially published.

Fyodorov believes that this approach should also apply to amendments to laws that increase the aggregate tax burden on companies and hence affect their finances.