Evgeny Kuivashev approved the procedure for supporting companies for successful completion of priority investment projects

Earlier the proposals of the head of the region were supported by the deputies of the Legislative Assembly, having adopted the relevant amendments to the law on state support for subjects of investment activity in the Sverdlovsk region.

"We all understand that in the new economic realities, enterprises may need more time to implement significant projects. Such an opportunity will be given to them. Those companies that have received the status of a participant in a priority investment project before 1 March 2022 will be able to extend its implementation for up to two years if necessary," Evgeny Kuivashev said.

Recall that the status of a participant of the priority investment project allows to reduce the rate of income tax for newly created production facilities to 13.5% until 2024, for modernization of production facilities - to 16%, and from 2024 gives the right to apply the investment tax deduction for corporate income tax. Also, companies are exempted from paying property tax on objects created in the course of project implementation.

The procedure approved by the head of the region stipulates that the term of implementation of a priority investment project in the Sverdlovsk Region may be extended for no more than two years, while all other parameters and conditions of project implementation must be preserved.

The adopted document allows companies to take advantage of the support measure by applying to the Ministry of Investment and Development of the Sverdlovsk Region.