Tyumen Oblast Authorities Extended Tax Vacation for One Year

26.06.2009 — News

The Tyumen Oblast.

The Tyumen Parliament has extended the tax vacation for investors constructing the most important industrial facilities in the region. In 2010-2012 they will be released from property tax payment, whilst the profit tax rate will be reduced from 20 to 14%.

As RusBusinessNews was advised by the Tyumen Oblast Duma, certain construction, oil processing, machine building, and food processing companies will have the tax preferences for three years.

The tax vacation will be extended for the Ochakovo plant in Tyumen. Last year it saved 20.9 million roubles through tax allowances and paid the tax in the amount of 170 million roubles to the budget. It is planned that the plant will pay about 700 million roubles of tax annually when it achieves its full capacity.

OOO Tyumenstalmost will be included in the list as of 2010. Tax allowances will help it save 132 million roubles. When the company achieves its full capacity in Q4 2010, it will produce 32 thousand tons of metal structures annually. The most part of the products will be demanded by the construction sites of the "The Industrial Urals - The Polar Urals" project.