The Resolution of the Ministry of Finance, the State Customs Committee and the Ministry of Economics (registered with the Ministry of Justice on 11.01.12 No.2312) establishes the Regulation on Application of Tax Privileges to Enterprises Attracting Direct Private Foreign Investments.
Enterprises with private foreign investments specialized at manufacturing products are released of payment of the following taxes: Corporate Income Tax, Property Tax, Social Infrastructure Development Tax, Uniform Tax Payment and statutory deductions to the State Road Fund.
The Regulation provides that the tax privileges shall be granted depending on the share of proceeds from the priority products and the size of the foreign investments; location of the enterprise in labor abundant region; effecting the investments without State’s guarantee and other conditions.
In case of worsening of the investment conditions by subsequently enacted laws the tax privileges granted shall continue in effect for the whole period.
Effective January 21, 2012.