The State Commission for the Development of the Arctic will decide on tax preferences for regional projects by May

10.04.2019

The State Commission for the Development of the Arctic will decide on tax preferences for regional projects by May

The State Commission for the Development of the Arctic at the meeting at the International Arctic Forum discussed possible options for granting tax preferences for projects in the Arctic zone. One of the options discussed with set of tax preferences for investors will be chosen by the end of the month. It was reported by Deputy Prime Minister Yury Trutnev.

«We asked commission members to submit their proposals during the week. I think we will need another week for processing. In two weeks, we will choose the option that we will offer to the Russian government. We will have energetic discussions with the Ministry of Finance and the Ministry of Economic Development», - Trutnev said.

Deputy Prime Minister noted that at the meeting two options of granting tax preferences for investors were discussed.  The first one implies granting tax preferences for a period of 10 to 15 years, depending on the size of the project, and provides for zero rates of payments on property, land and mineral extraction taxes. The second one provides for the reduction of tax rates for the entire duration of the projects, while the payment of taxes will begin from the beginning of the projects.

«Today representatives of companies say that the second option is better. I think that it is better for Russian Federation and regions – it provides an opportunity to receive funds to the budget from the very beginning of investment projects. Commission members and I supported it, but we need a time to decide», - he said.



Back to the list