Putin suggests to exempt the developers that build social objects from VAT
Developers who transfer constructed social facilities to the state or municipalities should be exempted from income tax and VAT, Russian President Vladimir Putin said during the announcement of the message to the Federal Assembly.
“Today, when construction companies transfer social facilities to the state or municipalities, they are forced to pay income tax and VAT on them. It is necessary to free developers from this burden. I mean our innovations in the construction industry, ”said Vladimir Putin.
The head of state added that such a measure would help stimulate the integrated development of cities and towns when necessary infrastructure is built along with housing — schools, kindergartens, hospitals, sports facilities.
Source: RIA Nedvizimost