Tax Breaks Law For Special Investment Contracts Participants Passed
July 30, 2022 at the meeting of the legislative Duma of the Tomsk Region a regional law has been passed “On introducing changes into the articles 1 and 2 of the law of the Tomsk region “On providing tax breaks for the participants of the special investment contracts – investors in the Tomsk Region”.
The law establishes a previously lacking right of the industrial enterprises, which realize investment projects within the frameworks of special investment contracts, signed by the Tomsk region without the participation of Russian Federation (so called regional special investment contracts), for receiving property tax breaks and business earnings tax breaks.
The main advantages of signing regional special investment contracts over signing federal contracts (with a simultaneous participation of Russian Federation and a member of the Russian Federation) are planned to be envisioned in the Order of signing regional special investment contracts:
- smaller volume of investments in the investment project (200-250 mln. rubles vs 750 mln. rubles);
- nonredundant (non-doubling) document contents;
- shorter time of finalization and approval of the investment project and signing the contract (takes 3-4 months to considerate vs 6 months).