Bashkiria to extend tax break for Investors

The tax break for investors will be extended for another year in Bashkiria, the press service of the State Assembly of the region told Bashinform News Agency. The deputies plan to adopt the relevant law at a plenary session at the end of May.

“The bill proposes to extend the reduced corporate income tax rate for another year, which is subject to transfer to the Republican budget, for a certain category of taxpayers. A preferential rate of 12.5 percent when calculating the tax for 2024 will be able to apply to organizations that are tax registered in the republic and have concluded an investment agreement with the government of the Republic of Belarus on the conditions for the implementation of a priority investment project,” explained Konstantin Tolkachev, speaker of the Bashkir parliament.

Implementing the law will cost the republican budget of the republic 505 million rubles, but the economic effect of tax preferences will exceed this amount due to the stable operation of enterprises and the implementation of investment plans, the Kurultai emphasize.

As of May 1, the list of priority investment projects in Bashkiria includes 295 projects with a total investment of 781.2 billion rubles. Their implementation involves the creation of 33.1 thousand new jobs.

Author: Galina Bakhshieva