Tax preferences for investors
The President of Bashkortostan Rustem Khamitov signed the laws, passed on October 20 by the State Council-Kurultay-RB and aimed at stimulation of investment activity. The laws provide for preferential profit and property taxation for investors.
The law RB N453 “Setting of the lowered corporate profit tax rate for the investors, busy with the investment activity in the form of capital investments in Republic of Bashkortostan” fixes the lowered corporate profit tax rate at the rate of 13,5% (with the basic rate at 18%) for the period of time between 1 and 5 years, depending on the volume of the capital investments.
The law RB N455-3 “The alteration of the article 3 of the law RB “The corporate profit tax” provides for the redemption of investors from the necessity to pay the corporate profit tax for the term from 1 to 5 years, depending on the volume of the capital investments.
The passed laws come into force beginning from January 1, 2012, the public affairs service of the President RB reports.