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Chukotka is preparing legislation for "meaningful" investment projects

Department of Finance, Economics and Property Relations Chukotka Autonomous Region developed a bill aimed at supporting and stimulating investment activities in the region, the press service of the Chukotka government reports. The bill introduces a new concept - significant investment projects.

The purpose of a meaningful investment project should be the production of goods, as well as the performance of work and services for all types of economic activity, except mining of precious metal ores and sands, rare metal ores and financial activities. For such projects, the tax rate for corporate profit tax to be credited to the district budget is fixed at the rate of 13,5%, explained the acting head of the Finance Department Ales Kalinova. The status of significant will be assigned to projects, the implementation of which began after 1 January 2015 year and which meet the established conditions.

Among such requirements is the state registration of the investor as a legal entity in the territory of Chukotka, the volume of capital investment of the business plan is not less than 25 million rubles for three calendar years in a row.

The document also envisages measures of state support, the amount and conditions for its receipt, establishes guarantees of the rights of subjects of investment activity. For potential participants of regional investment projects, it is proposed to expand the list of economic activities. It will carry the entire scope of mining, except for the production of ores and sands of precious metals and ores of rare metals.

In addition, the bill will eliminate the requirement for investor organizations to provide additional documents and the absence of tax arrears and compulsory payments.

Moreover, according to Kalinova, the Government proposes to establish additional support measures to stimulate investment activities in the region.

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