Investment tax incentives bar will be lowered in Bashkiria

UFA, 26 January 2017. /Bashinform News Agency, Galiya Nabieva/. In Bashkortostan the incentives for investors who implement their projects in the Bashkir Trans-Ural region and in the north-east of the republic will be changed. The Deputies of the State Assembly RB considered the amendments to republican legislation on taxes in general. The amendments will take effect after approval by the Head of the Region.

"We reduce the initial investment, from which benefits come into force from 30 to 10 million, and increase their duration from one to three years", the Chairman of the Budget, Tax, Investment Policy and Territorial Development Committee of the State Assembly RB Ruzaliya Khismatullina shared with RBC-Ufa.

To date, only four from nearly one hundred of the republican investment projects are being implemented in the Trans-Urals and north-east, the RBC-Ufa reports. This week, their number was replenished with a project of a cement plant construction in the town of Sibay. The investor is Sichuan Junhe Environmental Protection Co.,Ltd. The investment in the new project will amount to 205 million US dollars.

The Development Program of the northeast of the republic was launched in 2010. According to the official data, during this time, the volume of investments in fixed assets amounted to 21.6 billion rubles. More than 4.4 thousand jobs were created, the average monthly wage increased from 11.5 to 20.7 thousand rubles (by 1.8 times). In December 2016 the program was extended until 2020.

The Trans-Ural Development Program was also extended till 2020.