In the context of a pandemic in most countries, companies operating in the health industry have become one of the most active economic agents, increasing investments, both in working capital for the production and stockpiling of necessary medicines, materials and equipment, and increasing investments in R&D. It was precisely these companies that laid the main burden on ensuring the stable functioning of the entire healthcare system: restructuring production to the needs of hospitals treating patients with Covid-19, actively increasing private investment in research and development for developing vaccines for coronavirus infection, lightning-fast transformation of logistics and supply chains, etc.
At the same time in Russia, the health sector has not yet reached world average indicators, both in terms of investments in innovations and investments in the development of modern industries, what was especially evident during the pandemic.
Nevertheless, in recent years, due to the team of the Federal Tax Service of Russia, there has been a significant whitening of the industry and the departure of unscrupulous market participants. A system for digital labeling and traceability of drugs was created, an automated system of ASK VAT 2 was introduced.
In this regard, we can say that a new environment of trust between business and the state has been created. The next step is the improvement of tax administration in order to create conditions for the growth of private investment in innovation and the development of modern globally competitive industries.
Within the framework of the panel discussion experts will discuss the experience of other countries and Russian practice, including the experience of tax incentives for companies in the sector to increase private investment in innovation. Representatives of authorized bodies of the Russian Federation and foreign states, leading Russian pharmaceutical companies will be invited to participate in the discussion.