Investors ‘ investments in the creation of production facilities on the Kuril Islands should be co-financed or compensated by the state, said Boris Titov, the Commissioner for the Protection of the Rights of Entrepreneurs under the President of Russia. So he commented on the proposal of President Vladimir Putin to create an “unprecedented set of tax incentives” in the Kuril Islands for ten years.”If we want real production facilities, factories and factories to come there, then the state should probably co-finance or compensate for investment costs. In this mode, it can work, ” Mr. Titov said on the sidelines of the Eastern Economic Forum of TASS. He clarified that he does not mean support for the creation of infrastructure, but “co-financing or compensation for part of the investments that are invested in projects.”Read more on September 2, Vladimir Putin, during his speech at the forum, announced plans to exempt businesses in the Kuril Islands from paying taxes on profit, property, land and transport taxes, and to establish reduced insurance premiums in the amount of 7.6%. The President said that companies that “do not just register in the Kuril Islands, but actually work on the islands”will be able to count on this. Read more about the president’s proposal in the material “Kommersant “”The Kuriles will get their own regime”.
Titov: the state should co-finance the costs of investors in the Kuril Islands
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