02 November 2011, Wednesday, 13:36

Bashkir law-makers create comfortable conditions for investors

author: Ludmila Ternovaya

Two Republican laws, aimed at the rise of investment attractiveness of Bashkortostan, came into force on October 31: “Setting of the lowered corporate profit tax rate for  the investors, making capital investments in Republic of Bashkortostan” and “Alteration of the article 3 of the law RB “The corporate property tax”.

“The problems on attraction of investments always stand in the agenda of the Bashkir Government and the Bashkir Parliament” — the chairman of the State Council's committee for budget, taxes, finances and property issues Leo Bakusov reported to “Bashinform” — “At present time the legislative base concerning making comfortable conditions for investors is quite developed in the region and five laws are working in this direction. The last two have been passed at the last gathering of the Republican parliament. These laws were published and came into force on December 31. The matter is the corporate property tax and lowering of the  corporate profit tax rate. In the first case the enterprise, carrying out the investment activity in accordance with the agreement with the Government RB, will be exempted from the corporate property tax. In accordance with the second law the corporate profit tax rate is lowered from 18 to 13,5%.”

At that Leo Bakusov reported the debates on these laws weren't easy.

“We were considering these bills for rather long period of time, returning back two times. But finally we've passed these laws” – he mentioned — “I think these laws will let us make additional attractive conditions for investment activity in the Republic”.

The list of five laws concerning the investment activity in Bashkortostan also includes the laws: “The investment activity in Republic of Bashkortostan in the form of capital investments”, “Development of leasing activity in Republic of Bashkortostan” and “The foreign investment activity in Republic of Bashkortostan”.