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19 November, Monday

Ufa   °

Obtaining state support procedure will be simplified for investors in Bashkortostan

Economy/Business

UFA, 9 August 2018. /Bashinform News Agency/ translated by Tatiana Aksyutina/.

The republic has developed a package of amendments to laws aimed at increasing the transparency and quality of decision-making in the field of investment and innovation activities stimulating. The Deputy Minister of Finance of the Republic of Bashkortostan Lira Igtysamova informed about this at a meeting of the Public Council on improving the investment climate and export development under the Head of Bashkortostan.

The Ministry of Finance of the republic has prepared a bill on introducing amendments to the five laws of the republic.

In particular, it is proposed to simplify a procedure for state support obtaining. The grounds for it will be a fact of inclusion in one of the corresponding lists — investment priority projects, industrial parks or techno-parks. The amendments also imply to introduce a new term "investment priority project of the Republic of Bashkortostan", to establish a unified term for the use of benefits, regardless of capital investment — 10 years (now it varies from three to ten years), to limit the aggregate amount of property tax and profit tax to the volume of capital investments in the project or the sum of all taxes paid to the consolidated budget of the republic.

For the convenience of investors, it is proposed to establish in a single document all quality and quantity requirements for industrial parks, technology parks, investment projects.

According to Lira Igtysamova, investors will be able to confirm their right to the benefit with three documents. They include a conclusion report of the Ministry of Finance on the presentation of information by the investor to assess the effectiveness of benefits, a conclusion report of the Ministry of Economic Development about finding a project in the appropriate list and the volume of capital investments and a certificate of no tax arrears.

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