02:10 GMT +323 May 2018
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    Putin Proposes Tax Holidays for Production Startups

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    Prime Minister and President-elect Vladimir Putin has proposed tax holidays for new production facilities in Russia’s special economic zones.

    Prime Minister and President-elect Vladimir Putin has proposed tax holidays for new production facilities in Russia’s special economic zones.

    “We need to see how attractive the conditions are in special economic zones that we have established and assess critically why business and investors sometimes prefer to launch new production facilities somewhere abroad, rather than in these areas,” Putin told an enlarged board meeting of Russia’s Economics Ministry on Monday .

    Special economic zones have been created across the country to promote development of high-tech industries and transportation infrastructure by offering tax breaks and other privileges to resident companies.

    “Incidentally, we should think about how to additionally support new production facilities, for example, through tax holidays,” Putin said.

     

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