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Ministry of Economic Development of Buryatia drafts a bill on the application of "tax holidays" in the region
The Ministry of Economy of the Republic of Buryatia is drafting a bill on the application of changes in the Russian tax code, which came into force on 1 January 2015.
According to the amendments, the subjects of the Russian Federation can provide a two-year preferential tax rate for newly registered individual entrepreneurs working in the production, scientific or social spheres.
According to the official portal of the state authorities of the republic, in Buryatia the benefits will be valid until 2020 year, within 6 years.
At the same time, the regions must determine specific types of entrepreneurial activities in respect of which the "tax holidays" will be applied. They also have the right to establish restrictions on benefits in the form of the average number of employees, the maximum income and other indicators.
If a taxpayer violates the conditions specified in the law, he will lose the right to a tax benefit and will pay standard tax contributions, the press service of the Ministry of Economy of Buryatia writes.