Additional benefits in the field of income and property taxes have been introduced in the Ivanovo region, Russia, a representative of the press office of the regional government told RIA Novosti news agency.
“Benefits are provided to organizations that have concluded with the Russian Federation and the Ivanovo region a special investment contract. For enterprises concluded SPIC (a special investment contract) at the federal level, income tax is zeroed, and for organizations concluded a contract at the regional level, the rate of tax payable to the regional budget is reduced to 13.5%”, the agency’s interlocutor said, reminding that the standard rate of a profit tax payable to the regional budget is 17%, and that to the federal budget is 3%.