This text is translated into Russian by google automatic human level neural machine.
EastRussia is not responsible for any mistakes in the translated text. Sorry for the inconvinience.
Please refer to the text in Russian as a source.

In Primorsky Krai, the number of enterprises receiving recipients of tax benefits will be increased

The regional legislation of Primorsky Krai will be changed to maximize the range of investors claiming lower tax rates. This was announced today, 15 November, Governor of Primorye, Vladimir Miklushevsky, following the results of the meeting on tax benefits that the Plenipotentiary of the President of the Russian Federation in the Far Eastern Federal District Yuri Trutnev held in the region.

During the discussion, which was adopted by a number of federal ministries and heads of Far Eastern subjects, a unanimous decision was taken on the need to amend the tax code of the Russian Federation.

Yury Trutnev instructed the Ministry of Finance to prepare proposals for making changes within two weeks.

As explained by Vladimir Miklushevsky, the restrictions that are now available in the Tax Code of the Russian Federation, significantly limit the attraction of investors.

“For example, an organization should not include separate subdivisions located outside the territory of the constituent entities in which regional investment projects are being implemented. This means that, for example, such large companies as Summa and Rosneft will not get there, ”said the Governor of Primorye.

According to him, today in the region there are tax rates for the very minimum that the Tax Code of the Russian Federation permitted.

“I think this is right, because we must stimulate the emergence of investment projects. Even the construction of the facility itself and its subsequent operation in the form of personal income tax will bring more taxes than these benefits, ”the head of the region believes.

He also noted that in the province in addition to benefits for goods, installed in accordance with the instructions of the President, additional privileges for services were introduced in Primorye.

Moreover, Vladimir Miklushevsky said that he intends to bring the indicated issue to the discussion of the Public Expert Council on Investments under the Governor.

“We intend to discuss this issue with experts and will move towards improving legislation and completely abolishing restrictions in the regional law in order to expand the circle of recipients of reduced tax rates,” the head of Primorye concluded.

Let's note, according to the instruction of the President of the Russian Federation, investment projects that are implemented in the regions, under certain conditions can apply for lower rates on income and property taxes.

Such projects are exempted from income tax for five years and apply a lower rate of 10 percent for the next five years.

Investors are exempt from paying property tax for the first 5 years, the next five years the rate is 0,5 percent.

December 9: current information on coronavirus in the Far East
Digest of regional events and latest statistics