Laws establishing tax preferences for Agidel have been adopted in Bashkiria

Deputies of the State Assembly of Bashkiria adopted laws establishing a favorable tax regime in Agidel. The Republican Parliament's press service reported the details.

According to the Chairman of the State Assembly of the Republic, Konstantin Tolkachev, the preferences are designed to support entrepreneurs and increase economic activity in Agidel. Thus, new business entities created in the city no earlier than January 1, 2024, are exempt from paying property tax if they are involved in manufacturing or work in the agricultural sector, construction, hotel business, transportation, storage, and other activities. In addition, reduced tax rates are established for new organizations and individual entrepreneurs of Agidel, using a simplified tax system employed in economically and socially significant areas, including trade, catering, education, healthcare, etc. The tax rate for them is reduced from 6% to 1 % if the object of taxation is income and from 15% to 5% if the amount of expenses reduces income. These measures should help attract new investors to Agidel.

Republican laws “On Amendments to the Law of the Republic of Bashkortostan “On Organizational Property Tax” and “On Establishing Tax Rates for Certain Categories of Taxpayers Applying a Simplified Taxation System, Their Location (Place of Residence) and Place of Actual Activities of Which Is the Urban District of Agidel Republic of Bashkortostan" come into force one month from the date of official publication, apply to legal relations arising from January 1, 2024, and are valid until December 31, 2026.

Author: Roman Yakimchuk