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MIL OSI Translation. Region: Russian Federation –

Photo: Press service of the Mayor and Government of Moscow. Evgeny Samarin

The company has confirmed the status of the Moscow investor of the first category, will be able to get a discounted rate on the regional part of profit tax at the rate of 12.5 per cent, the second category — at the rate of eight percent.

Approved a new mechanism to support industrial enterprises that are actively investing in the development of production. The company has confirmed the status of the Moscow investor of the first category, will be able to get a discounted rate on the regional part of profit tax at the rate of 12.5 per cent, the second category, eight percent, said Deputy Mayor for economic policy and property and land relations Vladimir Yefimov.

“If the company invests in the development of its production, then it can get discount on regional tax of up to 90 percent of the amount invested. The amount of Federal income tax can be written off completely”, — explained Vice-the mayor.

Unused the sum of the regional benefits can be transferred to subsequent periods up to seven years, Federal benefits must be used within one year.

To an investment tax deduction the minimum annual expenditure for the development of production for the Moscow investor of the first category shall be 200 million rubles, the second category of 300 million rubles.

“The main conditions for obtaining the status of Moscow investor’s investment and tax deductions is the implementation of the activities in Moscow and the lack of procedures of liquidation and bankruptcy. In addition, the rate of renewal of fixed assets must be at least eight percent over the past year or at least 35 percent over the last five years, and the average monthly salary of employees must be not less than the average monthly labour income by the city,” — said the head of the Metropolitan

Department of investment and industrial policy Alexander Prokhorov.

In accordance with the changes in Federal legislation 2023 preferential rates of profit tax established by the regions, will cease to operate. The Director of the City Agency for investment management Leonid Kostroma stressed that until January 1, 2023, promkompleks and technology parks can choose either the current tax concession on profit at the rate of 12.5 per cent or investment tax deduction. Benefits for property and land they have left.

Almost all industrial enterprises of the capital have resumed work

In 2016 in the capital works program to support investors in the real sector of the economy. The town allocates investment active enterprises the status of the industrial complex, a technology Park, an anchor resident of Technopark and priority investment project. Status, entitling them to a preference, has already received 116 companies, including 53 of promkompleks, 36 parks, 13 anchor residents, 13 priority investment projects and one automaker. The amount of such investment companies during the past five years made up of 95.6 billion rubles, the company employs more than 110 thousand people.

EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure will not be perfect.

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