Tax exemptions and benefits
- Property tax exemption. This exemption is offered to the companies registered in the Oryol region which entered into investment agreements with the local government provided their property is constructed or purchased as a result of their investment activities during initial three years.
These exemptions and benefits are valid for the following consecutive tax periods, starting from the 1st day of this period:
|Total amount invested during the first three years ($ mln)*||The exemption period (number of consecutive tax periods)|
|3,3 to 16||1|
|16 to 64,5||2|
- Profit tax reduction. The companies registered in the Oryol region which entered into investment agreements with the local government are exempted from taxes in proportion to the amount actually invested during the first three years.
|Total amount invested during the first three years ($mln)*||Possible tax rebates (%)|
|3,3 to 16||1,5|
|16 to 64,5||3|
The company qualifies for both tax exemption options if the average monthly salary of its employees is equal or exceeds the quadruple of the subsistence minimum established by the Government of the Oryol Region for the able-bodied population in the respective quarter.
(The Law of the Oryol Region No.364-O3 On the property tax for organizations, dated November 25, 2003 and The Law of the Oryol Region No.1130-O3 On the reduction of the profit tax rates payable to the regional budget for organizations investing funds in the Oryol Region, dated November 8, 2010).
*Invested amounts are shown as converted from RUB to USD, and are for reference only.