Increased terms of tax preferences to investors in Bashkiria

Investors received extended tax preferences terms in Bashkortostan. The total sum of the given privileges cannot exceed the sum of investments directed for priority investment projects, the republican press-service informs.

The Bashkortostan President Rustem Khamitov has signed the Law «Concerning amendments to separate tax regulating acts of Bashkortostan Republic regarding investment activity in the form of capital investments».

We should remind that support of investors in Bashkortostan is fixed in several special republican laws. Since January 1, 2012 investors are given the lowered rate of the income tax 13,5 % (at the base rate of 18 %) for the term from one till five years depending on volume of the carried out capital investments. For the same time they can be exempted and from property tax payment.

According to the new law if an investor allocates from above 2 billion roubles (up to 5 billion roubles inclusive) he receives tax privileges for the period of five years, above 5 billion roubles for 10 years.

Investment projects should correspond to strategic directions of social and economic development of the region, the first deputy Minister of Economic Development RB Alexander Maryin underlined.