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Government of Russia will consider a bill on the extension of the SEZ in the Magadan region - EastRussia | Far East

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The government of the Russian Federation will consider a bill to extend the term of the SEZ in the Magadan region

The Commission of the Government of the Russian Federation on legislative activity approved, taking into account the discussion, the draft laws submitted by the Ministry of Economic Development of Russia aimed at improving the investment climate in the Magadan region, the press service of the Government of the Russian Federation reports.

The draft law provides for the extension of the operation of the Special Economic Zone in the Magadan Region until 31 December 2025 and establishes a preferential mode of business.
The draft federal laws "On Amendments to the Federal Law" On the Special Economic Zone in the Magadan Region "and" On Amending the Articles 381 and 395 Part Two of the Tax Code of the Russian Federation "were developed by the Ministry of Economic Development of Russia in pursuance of the President's instructions and instructions from the Government.
In accordance with the Federal Law “On the Special Economic Zone in the Magadan Region”, this zone operates until December 31, 2014. At the same time, the existing measures to support the participants of the Special Economic Zone in the Magadan Region (hereinafter - the SEZ) do not fully meet the objectives of the development of the Far East, set in the Message of the President of the Russian Federation to the Federal Assembly of December 12 of 2013.
The draft federal law "On Amendments to the Federal Law" On the Special Economic Zone in the Magadan Region "" provides for the extension of the operation of the SEZ until 31 December 2025 and establishes a preferential regime for the implementation of entrepreneurial activities.

In particular, it is envisaged: the restoration of the tax preferences in effect before the 2007 year for the exemption of its participants from payment of taxes in the part coming to the federal budget and the establishment of customs privileges that do not contradict the WTO rules.

Clarifies the selection criteria of participants in the SEZ For legal entities planning to obtain the status of a participant in the SEZ, the obligation to invest in the amounts and terms stipulated by the relevant agreement on the implementation of activities is established. At the same time, the federal executive body authorized by the Government makes a decision on support or refusal to support the business plan for the implementation of this agreement. It is envisaged that financial organizations, including credit and insurance organizations and professional participants of the securities market, cannot be participants in the SEZ.

A ban on the implementation of wholesale, retail trade by participants of the SEZ, provision of personal services is established. At the same time, a transitional period of five years is envisaged for which legal entities that received the status of a SEZ participant and carrying out these activities before 31 December 2014 will continue to have a special legal regime of economic activity and a customs procedure for a free customs zone.

The draft federal law "On Amendments to Articles 381 and 395 Part Two of the Tax Code of the Russian Federation" provides for the exemption of SEZ participants from payment of property tax and land tax.

The implementation of the proposed norms will contribute to improving the investment climate, attracting private investors to the industrial and mining industries of the Magadan Region.

The adoption of federal laws will allow creating favorable conditions for entrepreneurial and investment activities by the participants of the SEZ, and will accelerate the socio-economic development of the Magadan Region.

In connection with the introduction of benefits for the payment of VAT will be formed drop-out income, the maximum amount of which will be 1,2 billion rubles a year.
The bill will be considered at the Government meeting.