Russian President Vladimir Putin signed a law on expanding the regime of the free port of Vladivostok to Soviet Harbor, the document was published on the official Internet portal of legal information. The draft law was developed by the Russian government and assumes the extension of the regime of the free port of Vladivostok to the Soviet-Havana region of the Khabarovsk Territory, as well as the specification of the regulation of the organization of local self-government on the territory of the free port of Vladivostok, follows from an explanatory note.

At the first stage, 15 investment projects with a volume of private investments of more than 50 billion rubles are planned to be implemented on this territory and about 1.8 thousand new jobs will be created. Forecasted volume of receipts of taxes and charges to budgets of all levels for ten years the cabinet estimates in 4,3 billion rubles.

The resident of the free port of Vladivostok or the territory of advanced development receives a number of benefits: 0% income tax for the first five years (20% for the general tax regime), 12% for the next five years, 0% land tax for the first three years, 0% property tax for the first five years. In addition, the aggregate rate for insurance fees is reduced by 10 years to 7.6% (30% under the general regime). For residents of the TOP, a free customs zone regime is available. In particular, it presupposes duty-free and tax-free importation, storage and consumption of foreign goods.

In addition, the law complements Chapter 11 of the Law “On General Principles of Organization of Local Self-Government” by an article stating that the peculiarities of the exercise of certain powers of local authorities in the territory of the free port of Vladivostok are established by the federal law “On the Free Port of Vladivostok”.

Source: tks