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State Duma to consider bill on special economic zone in Kaliningrad

December 19, 2015, 8:51 UTC+3 MOSCOW
The bill suggests lowering to 50 million roubles the lowest requirement for necessary investments to obtain the status of a special economic zone in recreation, processing, fishery and agriculture
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MOSCOW, December 19. /TASS/. The Russian government presented to the State Duma (parliament’s lower house) a bill on organisation of a special economic zone in Russia’s westernmost Kaliningrad region, the government’s site reported on Saturday.

The bill suggests lowering to 50 million roubles (about $705,000) the lowest requirement for necessary investments to obtain the status of a special economic zone in recreation, processing, fishery and agriculture.

Another new provision reads that investors, who invest at least 150 million roubles (more than two million U.S. dollars) within first three years of a project, will not be liable for the income tax within first six calendar years and will enjoy a 50% discount on the tax for another following six years.

Since 2014, the Kaliningrad region develops the tourist-recreational clusters to make them growth points in the region and of the inter-regional cooperation; small and medium businesses have been growing, too. The plans are to build recreational facilities, which will become anchor investment projects. Initial investments in facilities of the kind usually are from 30 million roubles (about $423,000).

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