Moscow investors will get a new benefit
The Moscow City Duma approved in the first reading a bill on investment tax deduction, which should enter into force on January 1, 2020. The document fixes a new measure of support for capital investors – a tax deduction of 12.5% and 8%.
Entrepreneurs with the status of “Moscow investor” will receive the right to benefit, the procedure for which the authorities will determine. The amount of tax deduction is determined depending on the category of investor.
“Since 2023, due to changes in federal law, the preferential income tax rates established by the regions will expire. In this regard, the Moscow government has worked out the introduction of an alternative support option – an investment tax deduction for income tax, ”said Vladimir Yefimov, deputy mayor of the capital for economic policy and property and land relations.
Note that now the standard income tax rate transferred to the capital budget is 17%.
Source: Vechernya Moskva