The Government of the Russian Federation has supported a draft law on the establishment of a free economic zone (FEZ) regime in several border regions (Belgorod, Kursk and Bryansk regions) at once.
As explained in the Ministry of Economic Development, the benefits that will be provided to residents of FEZ in the border regions include:
- reduced insurance premium rates (7.6% at a base rate of 30%);
- zero tax rate on profits earned from the implementation of an investment project;
- exemption from corporate property tax from the moment of their registration;
- zero excise duty on liquid steel;
- exemption from mineral extraction tax on coal and iron ore.
The free customs zone regime will also operate in the FEZ.
At the same time, by analogy with the territories of advanced development, preferences will not be given to the entire region, but to specific locations, the list of which will be approved by the Government of the Russian Federation.
It is planned to establish preferential regimes this summer.
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