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The TOR Law was approved by the Federation Council
Today, the Federation Council approved the laws "On territories of advanced social and economic development in the Russian Federation" and "On amendments to certain legislative acts of the Russian Federation in connection with the adoption of the Federal law" On territories of advanced social and economic development in the Russian Federation ".
The documents approved by the upper chamber of the parliament will soon be sent for signature to the President.
As previously reported by EastRussia, in accordance with the adopted law, the TOP is a part of the territory of a constituent entity of the Russian Federation, which establishes a special legal regime for carrying out entrepreneurial and other activities in order to ensure accelerated socio-economic development, creating favorable conditions for attracting investments, to create comfortable conditions for ensuring the vital activity of the population.
ТОР is created by the decision of the Government of Russia for a period of 70 years.
Financing of the TOP is carried out at the expense of federal, regional and local budgets, as well as extra-budgetary sources.
To solve administrative and economic issues, management companies with a broad list of authorities, including those for operation and construction of roads, transportation services, electricity, gas, water supply, etc., should be established.
One of the most important points of the law is the existence of a special legal regime for the implementation of entrepreneurial and other activities in the territories of advanced development, which includes special taxation of residents, special preferential rates of rent, application of free customs zone procedures, priority connection to infrastructure facilities, and special state control and supervision.
For the first three years, the law on TOR is extended to the territory of the Far Eastern Federal District, after the expiration of this period, the law will be extended to other regions.