In the state Duma a bill on tax incentives for investors in the Arctic
The bill is aimed not only at implementation of large investment projects related to environmental conservation in the Arctic, but also on the introduction of new environmental technologies.
MOSCOW, may 16. /TASS/. The modernization of production and implementation of investment projects related to environmental conservation on Russian-owned land territories of the Arctic zone is encouraged at the state level. The bill sent to the state Duma member of the Duma Committee on budget and taxes Raisa Karmazina (“United Russia”). The document is available in the electronic database of the lower house of Parliament.
The bill proposes to amend the second part of the Tax code, according to which taxpayers will have the opportunity to apply to the priority of the depreciation rate a special coefficient not exceeding three in respect of the property, the cost of modernization which is used in the investment projects of environmental protection.
The bill also prescribes the concept of “investment project environmental purpose” — they recognized the program activities that prevent or reduce the negative impact of economic activities on the environment, compensate for the risk of damage to the environment and preserve the natural conditions of the Arctic zone. In addition, the implementation of such a project should be carried out on the land territories of the Arctic zone of Russia, and the volume of capital investments cannot be lower than RUB 30 billion, provided, provided financial contributions for the five year period since the beginning of the project.
The bill is aimed not only at implementation of large investment projects related to environmental conservation in the Arctic, but also on the introduction of new environmental technologies
designed to improve the environmental situation and to support further socio – economic development of the Arctic regions, noted in the explanatory note to the bill.