Supportive measure: benefits for subjects realizing an investment project which is included into the list of the region’s priority investment projects.

Tax advantages for subjects realizing an investment project which is included into the list of the region’s priority projects with the total value of more than 100 million.

Investment volume 100 - 500 million rouble	Investment volume  500 million - 1 billion rouble	Investment volume over 1 billion rouble
1.     Profit tax rebate up to 13,5 %
13,5 %	13,5 %	13,5 %
2.     Property tax (2.2 % rate)
100% relief	1 year - 100% relief 2 years - 100% relief 3 years - 100% relief 4 years - 50% deduction	1 year - 100% relief 2 years - 100%  relief 3 years - 100%  relief 4 years - 50% deduction 5 years - 50% deduction
3.     Transport tax
100 % relief	100 % relief	100 % relief
4.     Exemption term
3 years	4 years	5 years

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Recipient of support:  organizations carrying out economic activities which are strategically important for the development of the region and being registered in the territory of the region no longer than over a period of three years as at the date of application on shortlisting (except for those created via reorganization) and which obtained or will obtain unused fixed assets and under the condition that the following conditions are satisfied:

·         Average monthly wage rate should not be lower than monthly wage rate for corresponding type of economic activity for the last year confirmed by the Federal State Statistics Service;

·         Minimum 50% of average number of workers should have permanent registration in the territory of the region;

·         No outstanding tax, fee or sanction to budget systems of the Russian Federation.

Priority investment project is an investment project included into the list of priority investment projects (hereinafter the List) realized in the territory of the region through an economic activity which is strategically important for the development of the region or its municipal district. It is realized by one of the following entities involved in investment activities:

·         Entities carrying out economic activities which are strategically important for the development of the region and being registered in the territory of the region no longer than over a period of three years as at the date of application on shortlisting (except for those created via reorganization) and which obtained or will obtain unused fixed assets with the total value of more than 100 million rouble;

·         Entities carrying out economic activities which are strategically important for the development of the municipal district of the region and being registered in the territory of the region no longer than over a period of three years as at the date of application on shortlisting (except for those created via reorganization) and which obtained or will obtain unused fixed assets with the total value of less than 100 million rouble. 

        Exemption term – 1 year. Type of benefit – property tax exemption.

·         Entities carrying out economic activities which are strategically important for the development of the region as well as modernization (reconstruction) of the fixed assets of an organization which increase residual value of modernized (reconstructed) fixed assets of an organization no less than for 30% and no less than for 100 million rouble or construction of new production facilities with the total value of no less than 100 million rouble.

Exemption term – 2 years. Type of benefit – property tax exemption.

Organization applied for including it into the List should meet the following requirements:

·         Average monthly wage should not be lower than monthly wage rate for corresponding type of economic activity in Vologda region confirmed by the local office of the Federal State Statistics Service for the year prior to the year of application on including into the List of priority investment projects;

·         Minimum 50% of average number of workers should have permanent registration in the territory of the region;

·         No outstanding tax, fee or sanction to budget systems of the Russian Federation.

Procedure for forming of the List is adopted by the Government of the region and includes the procedure of inclusion into the List, exclusion from the List and monitoring of investment projects included into the List.

The selection of investment projects will be performed in two ways:

·         Simplified – provided for investment projects with investment volume of up to 100 million rouble. This simplified selection system consists of provision of documents to the regional Department of Economics by a project initiator and his further evaluation against specified requirements. In this case organizations get 100% property tax relief for 1 year;

·         Standard (via selection at the Investment committee) provided for investment projects with investment volume of over 100 million rouble. The standard selection provides evaluation of economic, social and budget efficience of an investment project and integrated expert rating. Qualified projects get 100% property and transport tax relief and profit tax rate reduction for a period starting from three years or 100% property tax relief for a period of two years.

Following the results of the selection (regardless of the selection method) the Government of the region adopts a rule on shortlisting. An investment agreement is concluded with an entity which realizes a project.

The project selection on shortlisting for the current financial year is carried out once in a quarter during the current financial year.

Regulated by the Government Resolution of the Vologda region no. 1114 "On procedure of forming the list of priority investment projects" dd. October 28, 2013