Investors in the Russian Arctic zone offered a broad package of tax benefits
The package of bills on state support of entrepreneurship in the Arctic zone of Russia, adopted by the State Duma in the second reading, provides for the following tax benefits: zero rate of income tax credited to the federal budget for 10 years after making the first profit.24 2020
This applies to all types of activities, except for mining.
Also, the bills provide for the introduction of reduced, up to 0%, rates of taxes on profit, property, land, credited to the regional budget, and reduction of rates up to 1% under the simplified tax system. The specific parameters of such benefits will be established by the regions of the Arctic after the package of federal laws becomes effective.
The bills also provide for the reimbursement of part of the premium payments to state extra-budgetary funds up to a final rate of 7.6% for all types of activities, except for mining.
They also provide for the establishment of a 0% VAT rate for icebreaking, sea shipping and cargo handling services for exported goods.