29 Apr 2010 16:58

Medvedev promises tax preferences to Skolkovo project participants

OBNINSK, Kaluga region. April 29 (Interfax) - President Dmitry Medvedev has spelled out tax preferences for those partaking in the Skolkovo Innovations Center project.

"Residents of the new zone will enjoy the following benefits: preferential terms until they achieve an annual revenue of one billion rubles and further benefit of 300 million rubles. The benefits will be in effect for ten years starting the participant's registration," he said at the Thursday meeting of the Presidential Commission for Modernization and Technical Development.

Compulsory insurance fees will have a rate of 14%, the revenue tax will have a rate of zero, and exemption from the value added tax is possible depending on the choice of the taxpayer.

The corporate property and land tax rate will be zero, and the income tax rate will be determined by national laws.

"These are rather serious decisions, and we will discuss them," Medvedev said.