The legislative assembly of the Primorye Territory has decided to extend tax benefits for IT, mining and pharmaceutical companies through 2026-2028. This budgetary decision is aimed at creating conditions for sustainable socioeconomic development in the region.

Benefits under the simplified taxation system have been approved for IT companies until 2027, and property tax rate has been reduced to 0.3% for data processing centers until 2028.

Property tax exemptions have been approved for mining and pharmaceutical companies, as well as enterprises that fulfil state defense orders until December 31, 2028.

Tax holidays have been granted to Far Eastern Federal University to release funds for infrastructure modernization.

“This tax benefit will allow the university to spend over 1.1 billion rubles on repairs, improvement and maintenance of the campus facilities,” speaker of the Primorye Territory’s legislative assembly Anton Voloshko stated.

The assembly has also approved amendments to reduce the tax rate under the simplified tax system for veterans of the special military operation by six times.

This benefit will be available to the veterans of the special military operation who registered as individual entrepreneurs after February 24, 2022 and whose income over that period has not exceeded 8 million rubles. It will be effective for three tax periods starting January 1, 2026.