Putin instructed to prepare amendments about the zero tax on the profits several investors

MOSCOW, December 23. The President of Russia Vladimir Putin has charged to prepare amendments that reset the Federal part of the tax on profit of organizations-investors, are parties to a special investment contract. According to the official website of the Kremlin, the instruction the President gave following the meeting of the Presidium of the state Council.

The President instructed the government to:

  • “To provide entering into the legislation of the Russian Federation changes providing for the reduction to 0% rate of tax on profit of organizations due to the Federal budget, for an investor that is a party to a special investment contract, and the application of such rate until the amount of savings resulting from the use of the incentives and tax breaks on profits payable to the budget of a constituent entity of the Russian Federation, will reach the amount of capital investment made by the investor in a special investment contract”.
  • Also in the period up to July 15, 2016, the Cabinet will have to prepare the amendments, providing buyers of products produced within the framework of implementation of special investment contracts, the right to apply a multiplying coefficient to the basic depreciation rate of such products.
  • The President instructed to Supplement the state information system industry information on the implementation of import substitution plans;technical characteristics and other parameters produced in the Russian Federation industrial output; enterprises and organizations that are suppliers and manufacturers of raw materials, components and equipment;and planned bodies of the state power and local self-government bodies, companies with state participation, procurement of goods, works and services of foreign production, including industrial products, which have no analogues produced in the Russian Federation.