Sunday, November 30, 2014

Putin approved the law provides tax incentives for the Crimea – GOSNOVOSTI

Putin approved the law provides tax incentives for the Crimea – GOSNOVOSTI

 Vladimir Putin

Vladimir Putin

Putin approved the law provides tax incentives for the Crimea. The creation of a free economic zone on the peninsula is intended to ensure the development of the region.

Russian President Vladimir Putin signed a law on the establishment of the Crimea and Sevastopol free economic zone (SEZ), a document published on the official web portal of legal information on Sunday.

Federal Law “On the development of the Crimean Federal District and the free economic zone on the territory of the Republic of Crimea and Sevastopol city of federal significance,” the president signed on November 29.

The law establishes especially taxation in the Crimea and Sevastopol, especially the implementation of state control, entry, operation of a free economic zone.

In particular, participants economic zone will be a zero rate for income tax on the share paid to the federal budget (2 percentage points from 20%). Term of creating SEZ – 25 years, may be extended mode.

Big investors will be able to enjoy additional tax benefits and the regime of free customs zone. In particular, it is a duty-free importation into the territory of the peninsula of imported goods, as well as parts and equipment necessary to conduct business. Investors will have the right to supply its products to the Russian market, as well as to export, including the countries of the Customs Union.

 
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