Legislative Assembly of the Primorsky Territory approved the amendments into the Law on Corporate Property Tax and the Law on Establishment of Reduced Corporate Income Tax at the meeting held on November 24, 2015.
The bills were developed in compliance with the Tax Code of the Russian Federation, Federal Law on Priority Development Areas and Federal Law on the Free Port of Vladivostok.
The amendments are aimed at raising the efficiency of the regional investment policy, attraction of investments, simplification of the tax administration”, says Galust Akhoyan, Chairman of the Committee for Fiscal Policy and Financial Resources.
Federal Law on the Free Port of Vladivostok came into effect on October 12, 2015. The free port legislation will be applicable for 15 municipalities of the Primorsk Territory including their water areas. Total area of the free zone is 28,400 square kilometers with population of 1.4 mln people.
Related link:
Yury Trutnev orders to simplify obtaining of Free Port of Vladivostok resident's status>>>>
Companies already in operation can be residents of Free Port of Vladivostok >>>>