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Special economic zone in the Magadan region will last until 2025 year
Prime Minister Dmitry Medvedev signed the Order of May 19, 2014 No. 852-r "On submission to the State Duma of draft laws prepared by the Ministry of Economic Development of Russia aimed at improving the investment climate in the Magadan Region."
In accordance with the Federal Law "On the Special Economic Zone in the Magadan Region", the zone operates until December 31, 2014. The draft of the new federal law provides for the extension of its operation until December 31, 2025 and the establishment of a preferential regime for carrying out entrepreneurial activities. First of all, we are talking about the restoration of tax preferences that were in force until 2007 to exempt its participants from paying taxes in the part that goes to the federal budget.
It is expected that the new document will help to improve the investment climate, attracting private investors to the industrial and mining industries of the Magadan region.