SEZ residents will be able to reimburse value added tax 2 times faster
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The procedure for entering the tax monitoring system has been simplified for residents of special economic zones. The relevant amendments to the Tax Code were approved by the President of the Russian Federation, and they will enter into force on January 1 next year.
This was announced by Russian Minister of Economic Development Maxim Reshetnikov at a coordination meeting with the Ministers of Economy of the Russian regions in Ufa.
"Previously, tax monitoring was provided only for large companies, whose basic taxes for the year were at least 100 million rubles, and the annual income was at least 1 billion rubles. Due to the new amendments to the Federal Law, companies with lower tax and monetary turnover will now be able to afford tax monitoring," the minister noted.
Mikhail Labudin, Director of the Association of Clusters, Technoparks and SEZs of Russia, said at the meeting that these amendments to the Tax Code of the Russian Federation will make all regulations governing the application of tax preferences at the regional level more universal and understandable for businesses.
"Residents of the SEZ, along with participants in industrial clusters, will now have the unconditional right to tax monitoring. Previously, many SEZ residents – SME entities faced obstacles due to high criteria for the total amount of taxes paid, income received, and asset value for the reporting year. The new bill eliminates these complications for SEZ residents, which will undoubtedly increase the investment attractiveness of special economic zones," Mikhail Labudin emphasized.
It should be noted that in Krasnoyarsk in 2020, according to a Decree of the Government of the Russian Federation, a special economic zone of industrial and industrial type (SEZ PPT) "Krasnoyarsk Technological Valley" was created. It is planned to create new production facilities here, including in the field of rental, production of equipment and aluminum products for aviation and mechanical engineering. Five companies have already received the status of residents of the Krasnoyarsk Technological Valley SEZ, which are ready to invest more than 9.7 billion rubles in the development of production facilities. The Krasnoyarsk Technological Valley SEZ creation project is included in the Yenisei Siberia CIP.
