Bashkiria adopted law on tax benefits for Alga SEZ residents

The State Assembly of Bashkiria adopted a law on tax benefits for residents of the Alga Special Economic Zone. The document was signed by the Head of the Republic and will enter into force on January 1, 2021.

SEZ residents are exempt from income tax for five years, from paying transport tax on trucks, special equipment, buses for 10 years, from land tax for five years, from company property tax for 10 years.

The amount of benefits in 2021-2022 is tentatively estimated at 600 million rubles. It is assumed that investors will invest 20 billion rubles over the same period and will create about 1,000 jobs. In general, a promising investment portfolio is estimated today at the level of 100 billion rubles with the creation of about 4 thousand new jobs, the Speaker of the Bashkir parliament Konstantin Tolkachev believes.

The Alga special economic zone of industrial-production type was created in the territory of Sterlitamaksky and Ishimbaysky regions in June this year. At the moment, it has two official residents who are starting to build their production sites. At the same time, the infrastructure necessary for the construction and operation of enterprises (water, gas, electricity, roads) is being supplied, for which the republican budget will allocate 6.3 billion rubles until 2025.