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The law on tax incentives for businesses in the TOP
As part of the consideration of a package of bills aimed at creating territories of advanced development in Russia, the State Duma unanimously adopted in the third - final reading the draft federal law "On Amending Part Two of the Tax Code of the Russian Federation in connection with the adoption of the Federal Law" On the Territories of Advanced Social economic development in the Russian Federation. "Next week it is planned to consider the law in the Federation Council.
The bill creates the most favorable tax regime for the development of economic and scientific potential in the TOP.
In particular, the law gives the right to subjects of the Russian Federation for such organizations to set a lower tax rate for income tax in the part to be transferred to the budgets of the constituent entities of the Russian Federation (18%), and sets a zero rate for the tax payable to the federal budget (2%). A zero rate can be applied for five tax periods.
So, according to the bill, in the regional part, the rate for these organizations should not exceed 5% for five tax periods, starting from the tax period in which the first profit was received. During the next five tax periods, the rate can not be less than 10%.
The document establishes that the taxpayer-resident of the TOP will be able to apply these rates if the income from its activities carried out when executing agreements on the implementation of activities on TOPs is at least 90% of all revenues recorded in determining the tax base.
In addition, legal entities applying for tax incentives must be registered in the territory of advanced social and economic development and can not have separate subdivisions located outside the TOP. Also, the organization should not apply special tax regimes or be a non-profit organization, a bank, an insurance organization, a non-state pension fund, a professional participant in the securities market, a clearing organization.
The draft law also proposes to set a lowering coefficient to the rate of the mineral extraction tax for participants of investment projects aimed at the extraction of minerals and organizations-residents of the TOP at 10 years.