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The governor instructs to explore the issue of providing additional tax incentives for investors in the region
The governor instructs to explore the issue of providing additional tax incentives for investors in the region
Economy 07.03.2018

The initiative was expressed in the investment address on Tuesday, March 6, 2018.

Ivan Belozertsev noted that a tax benefit was introduced for residents of industrial parks in the fulfilment of his order following the results of last year’s address. The regional part of the income tax was reduced for investors from 17 to 10 per cent.

In 2018, the territorial entities of the Russian Federation obtained new opportunities to regulate tax levies. The regions were given the right to grant a tax benefit for the personal property tax.

“At the same time, the maximum tax rate may not exceed 1.1 per cent in the current year. Our region is one of the few where the benefit is preserved in the form of the reduced tax rate of 0.55 per cent. Thus, personal property in the Penza region is taxed at the tax rate cut twice the possible level,” Ivan Belozertsev stated and identified this strategy as real support for business.

The governor encouraged further efforts in this field. Specialists from the regional Ministries of Economy and Finance should also explore the opportunity to introduce additional tax incentives on personal property for some categories of taxpayers.

“I recall that at the end of last year, the Tax Code of the Russian Federation was amended with regard to introducing a new benefit in the form of the investment tax deduction for investments in the purchase of equipment, modernisation or reconstruction of production,” the governor stressed. “The federal legislation allows the regional authorities to set a deduction up to 90% of costs”.

The Ministry of Economy of the Penza region was instructed to formulate proposals for introducing these preferences upon reviewing the experience of other Russian regions.