Russian President Dmitry Medvedev has signed a federal law "On Amendments to Chapters 30 and 31 of Part II of the Tax Code of the Russian Federation." The federal law was passed by the State Duma on November 1, 2010 and approved by the Federation Council on November 24, 2010, the Kremlin press service said.
The amendments to the federal law provides taxpayers property tax benefits reducing the tax base in the amount of completed capital investments in construction, reconstruction, and (or) upgrading of the new commissioned shipping canals of the inland waterways of the Russian Federation, the port’s hydraulic structures, air transport facilities (with the exception of centralized aircrafts refueling facilities and the space launching site), taken into account in the book value of these objects.
According to federal law the tax benefit is effective until January 1, 2025.
The amendments to the federal law provides taxpayers property tax benefits reducing the tax base in the amount of completed capital investments in construction, reconstruction, and (or) upgrading of the new commissioned shipping canals of the inland waterways of the Russian Federation, the port’s hydraulic structures, air transport facilities (with the exception of centralized aircrafts refueling facilities and the space launching site), taken into account in the book value of these objects.
According to federal law the tax benefit is effective until January 1, 2025.