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In Yakutia, tax incentives for investment projects for a period of 10 years

The Cabinet of Ministers of Yakutia has adopted 10-year tax incentives for investment projects implemented on the territory of the republic, according to the website of the regional administration.

"Companies implementing an investment project must have compulsory state registration in Yakutia, and projects must be included in the program of socio-economic development of the municipal district, on the territory of which they will be implemented," explained the Minister of Economy of the Republic of Sakha (Yakutia) Valery Maksimov.

Investors will operate at a lower income tax rate. In the first five years, the income tax will be zero, in the next 5-10 years it will be 10 percent instead of the current 20 percent.

In addition, reduced coefficients on MET for regional projects in the field of gold, coal and ore mining have been introduced. Since the adoption of the preferential income tax rate, 0 percent is established during the first two years, 0,2 percent - up to 4 years, 0,4 percent - up to 6 years, 0,6 percent - 8 years, 0,8 percent - 10 years. These benefits do not apply to the extraction and transportation of oil, gas and gas condensate.

Also, the bill establishes the thresholds for capital investments and the timing of their implementation in accordance with investment projects - at least 50 million rubles during the first three years and less than 500 million rubles - up to 5 years.

If the projects are included in the list of territories of advanced socio-economic development, then they can no longer be included in the register of investment projects enjoying tax benefits in the territory of Yakutia.

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