It is planned to extend the preferential corporate income tax rate for residents of the special economic zone of the industrial-production type “Alga”. This was announced by the Chairman of the State Assembly – Kurultai of the Republic of Bashkortostan Konstantin Tolkachev.
– During the first five years from the moment of receiving the first profit from activities on the territory of the special economic zone, entrepreneurs are completely exempt from paying corporate income tax, which is subject to transfer to the budget of the Republic of Bashkortostan, – Konstantin Tolkachev reminded. – And then the current legislation provides for a five-year transition period for them, during which the tax is levied at the rate of 5% of the profit. The bill proposes to increase this grace period from five to seven years.
According to the Speaker of the parliament, the tax benefit, although it will result in a decrease in budget revenues at the initial stage, will ultimately be an incentive for the development of the real sector of the economy.
– According to the Ministry of Finance, as a result of the adoption of the law, the losses of the republic’s budget will amount to about 22 million rubles a year, – said Konstantin Tolkachev. – But in the future, due to the development of production, budget revenues will increase. In addition, residents of the special economic zone “Alga” will create new jobs, and this is the social protection of residents of the republic and another strong argument in favor of state support for business. Now the economy of our country is experiencing strong sanctions pressure and is in a state of high uncertainty. In such conditions, it is extremely important to maintain an economic favored-nation regime for promising industrial productions.
Reference
SEZ “Alga” is a special economic zone of industrial and production type with a special regime of entrepreneurial activity in the form of preferential tax, customs and administrative conditions for residents. It was created on the territory of Ishimbay and Sterlitamak districts. It consists of four separate sites with a total area of 468 hectares. Enterprises are placed in a cluster type with grouping by three parameters: industry affiliation, raw material base and similarity of technologies.
Today, residents of the SEZ “Alga” are 10 companies with a total declared investment volume of over 23 billion rubles.
In 2020-2021, 623 million rubles were allocated from the republican budget for the development of the SEZ “Alga”, in the first quarter of 2022 – another 603.5 million rubles. Funds have been invested in infrastructure development.
Source: Press Service of the State Assembly-Kurultai RB.