The Ministry of Economy submitted to the Government a bill on partial unification of special economic zones and new benefits under this regime.
It is proposed to combine industrial-production and technology-innovative zones so that the regions and residents are not confused with the classification. In practice, these types of SEZs are already merging as technologies, production and IT are interconnected and the distinction between these two types is difficult to make.
In addition, the Ministry of Economy suggests to simplify the procedure for obtaining a SEZ resident status through replacing business plan with a simpler document, which is a passport of investment project, and reducing the time for consideration of the potential resident’s application.
Among new tax benefits is 0% federal part of corporate income tax (which is 2% out of 20% rate) for the first five years for residents of all SEZs and the right of manufacturing industries and residents of tourist SEZs to claim simplified VAT refunds.
NAZALI TAX & LEGAL