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Yuri Trutnev: incentives for investors in the Arctic will improve

Yuri Trutnev: incentives for investors in the Arctic will improve
Photo: dfo.gov.ru

Preferences for investors who decide to develop business in the Arctic zone will be improved. This was during a meeting on amendments to the package of bills on Arctic benefits, said Deputy Prime Minister Yuri Trutnev. He noted that not only large projects with investments of 10 million rubles or more, but also small enterprises can count on support.

A number of draft laws on a system of preferences for investors in the Arctic zone are under consideration in the State Duma of the Russian Federation. Offshore projects will receive a reduced mineral extraction tax of 5% over 15 years of industrial production. Manufacturers of LNG and gas chemistry will be exempted from tax for 12 years from the date of delivery of the first products.

For projects for the development of new oil fields, mineral extraction tax can also become zero for 12 years with a phased increase in the rate starting from 13 years. Mines of solid minerals will receive benefits equivalent to the funds invested in infrastructure.

For projects not related to production, they plan to nullify the federal part of the income tax, provided the region reduces its part of the tax. For new jobs, reduced insurance premiums of 7,6% instead of 30% are provided.

So far, the bills provide support only for projects with investments of at least 10 billion rubles. Now we are considering a proposal to lower this bar to either three or one million rubles for projects not related to production. This will make it possible to implement projects for small and medium-sized businesses.

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