Post sponsored by NewzEngine.com

MIL OSI Translation. Region: Russian Federation –

September 3, 2021, 07:02

Share this

Photo by M. Mishin. Press Service of the Mayor and the Moscow Government

The new status will allow them to invest additional funds in the development of production, which they will save on taxes.

Since the beginning of the year, three more enterprises in Moscow have received the status of an industrial complex. Now the Central Institute of Aviation Motors named after P.I. Baranov, the Moscow plant for the production of processed cheese “Karat” and the Central Institute of Traumatology and Orthopedics named after N.N. Priorov. This was announced by the Deputy Mayor of Moscow for Economic Policy and Property and Land Relations Vladimir Efimov.

“The status of an industrial complex, which implies significant tax benefits, has been assigned to enterprises in the capital since 2016. This year, three more organizations received it, where a total of about 2.5 thousand people work. In the last five years alone, these enterprises have invested about five billion rubles in urban industry. Thanks to the new status, they will be able to invest additional funds saved on taxes in the development of production, ”he said.

For industrial complexes, along with other preferences, there is a reduced rate of the regional part of the profit tax – 13.5 percent instead of 17. In addition, the land tax rate and rent for land have been reduced by 80 percent, and the property tax rate by 50 percent.

The status of an industrial complex can receivemetropolitan manufacturing industries, as well as enterprises engaged in research and development.

In addition to formal requirements, for example, registration in Moscow as a taxpayer and the absence of bankruptcy procedures, there are also a number of property and economic conditions. Among them are building density, investments over the past five years, requirements for the minimum size of the wage fund and average wages.

“In total, 61 enterprises have been assigned the status, employing over 70 thousand people. And the total investment in five years amounted to 34.3 billion rubles “, – added the head of the capital Department of Investment and Industrial Policy Alexander Prokhorov.

A new production of medical devices for traumatology, orthopedics and prosthetics was opened in MoscowIn 2020, industrial enterprises of the capital received soft loans in the amount of one billion rubles

The status of an industrial complex is assigned for a period of up to 10 years and is subject to mandatory annual confirmation.

EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

MIL OSI Russia News