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Federation Council supported the extension of tax incentives for large investment projects in the DFO - EastRussia | Far East

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Council of Federation Supports Extension of Tax Benefits for Large Investment Projects in DFO

Special project TORA and Free Port
The Federation Council approved the extension of the period for granting tax exemptions for organizations for residents of TOP and SPV implementing major investment projects in the Far East, the press service of the Ministry of Development and Development reported. The law provides for an amendment to Part 2 Art. 284 of the Tax Code of the Russian Federation in terms of changing the date of commencement of the application of corporate tax benefits.

"Benefits are extended to investors. If the investor has invested more than 500 billion rubles, then the benefit will not be 10-year-old, but 19-year-old. For capital-intensive projects, we provide investors with such benefits long enough to pay back investments and improve the economy of the investment project. Tax benefits will be extended for residents of TOP and SPV. When there are a lot of investments, the period of capital expenditures is long and it turns out that the investor does not make a profit, and the tax privilege has already ended. It is planned to eliminate this imbalance, "the commentary of the head of the ministry Alexander Galushka is quoted in the message.

For projects with an accumulated investment volume of at least 500 million rubles. The new order is valid from the sixth tax period for income tax (5 years). For projects with an accumulated investment volume of at least 1 billion rubles. - from the seventh tax period for income tax (6 years). For projects with an accumulated investment volume of at least 100 billion rubles. - starting with the tenth tax period for income tax (9 years). Projects that are to be granted benefits include the construction of Amursky Gas Processing Plant Gazprom with a total investment of 690 billion rubles. and Amursky SCC “SIBUR” in the TOR “Svobodnyy”, the creation of a helium hub in the TOR “Nadezhdinskaya” with an investment of more than 5 billion rubles. and etc.