The Ministry of Economic Development has proposed a number of amendments to the federal law "On Special Economic Zones" (SEZ) and corresponding articles of the Russian Tax Code. A relevant bill has recently been submitted for examination to the Russian Government. The proposed amendments include exemption from profit tax for the period of the first 10 years of the activity of SEZ residents, accelerated depreciation and VAT refund procedure, simplification of management processes.
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NAZALI TAX & LEGAL |