A new tax deduction will be available to the participants of the agreement on the protection and promotion of investments

Rate this post

Draft law has been introduced to the State Duma, which proposes to establish a tax deduction mechanism for participants of the agreement on protection and promotion of investment in respect of the following taxes:

  • income tax;
  • corporate property tax;
  • transport tax;
  • land tax.

According to the draft law, the amounts of the taxes above can be reduced till to zero at the end of the tax period. The taxes payable may be reduced for certain types of expenses incurred by the agreement participant during the implementation of the investment project.

Thus, the amount of the tax deduction should not exceed the amount of the costs incurred. In order to receive this deduction, the taxpayer will be required to ensure that separate accounting of income (expenses) is maintained.

Share: