MOSCOW, July 10The State Duma adopted a law that postpones to October 1 the deadline for submitting the draft federal budget for 2025-2027 this year, and also extends to 10 years the period for state co-financing under the long-term savings program for citizens.
The document introduces various changes to the Budget Code (BC) and other legislative acts, including those relating to the write-off of two-thirds of the regions' debt on budget loans and the transfer to the federal budget of additional revenues arising in connection with the introduction of a five-step progressive personal income tax scale, and also excise taxes on nicotine raw materials, on tobacco-free nicotine-containing mixture for heating and on the pharmaceutical substance of ethyl alcohol. 
The law also postpones the deadline for the government to submit a draft three-year budget for the next three years to the State Duma this year from September 15 to October 1. This is due to changes that are being made to the Tax Code by another law in order to improve the Russian Federation's tax system. Serious detailed study will be required from the point of view of the impact of these changes on budgets at all levels, explained Andrei Makarov, head of the State Duma Committee on Budget and Taxes.
The law also increases the period of state co-financing under the long-term savings program for citizens from three to 10 years. In order to provide state support for the formation of long-term savings, the federal budget may be provided with interbudgetary transfers from the budget of the Social Fund of the Russian Federation. The law also provides for the transfer to local budgets of all revenues from the tourism tax, which is planned to be introduced in 2025; and to the federal budget — funds confiscated as part of the fight against corruption (now these funds are credited to the budget of the Social Fund of the Russian Federation). 
The law also distributes excise tax revenues on natural gas for ammonia production between the federal and regional budgets in the proportion of 83% and 17%. The same standard for the distribution of income between the center and the constituent entities of the Russian Federation remains in relation to additional income received in connection with the planned increase in mineral extraction tax rates on potassium salts, iron ore, apatite-nepheline, apatite and phosphorite ores.
And from 2025, municipalities are given the right to direct savings from interbudgetary transfers based on the results of procurement to finance municipal programs within the framework of national projects. Changes are also being made to limit the annual amount of expenses of constituent entities of the Russian Federation and municipalities for the fulfillment of concession obligations. These restrictions will not apply to concession agreements and public-private partnership agreements concluded before 2025.
The law must come into force from the date of its official publication, with the exception of some provisions for which other deadlines are established.