Minister for the Development of the Russian Far East and theArctic briefs the President on the unified preferential regime

© RIA Novosti / Vyacheslav ProkofyevMinister for the Development of the Russian Far East and Arctic Alexei Chekunkov
Minister for the Development of the Russian Far East and Arctic Alexei Chekunkov
Minister for the Development of the Russian Far East and the Arctic Alexei Chekunkov briefed Vladimir Putin on a bill establishing a unified territory of advanced development. Speaking at a meeting on the development of the Far East, Alexei Chekunkov said that the bill would be ready for submission by the time the new State Duma is formed, thereby ensuring that the President’sinstruction would be fulfilled on time. The unified territory of advanced development system is scheduled to begin operating on January 1, 2027.
“We have drafted the bill on the unified territory of advanced development in close collaboration with all 19 Far Eastern and Arctic regions, the State Duma, the Federation Council, State Council commissions, oversight agencies and, of course, the business community itself,” Alexei Chekunkov said.
In his report to the President, he outlined the key features of the new bill. In particular, the unified territory of advanced development will consolidate and standardize all existing preferential regimes in the macro-regions, while the Far East and Arctic Development Corporation will continue to provide support for each project throughout its entire life cycle.
Meeting on the development of Russia’s Far East
Vladimir Putin chaired a meeting on the development of Russia’s Far East
Alexei Chekunkov explainedthat the bill provides for two categories of projects carried out by residents of the unified territory of advanced development. v. Projects worth between 100 million and 1 billion rubles will receive a basic package of incentives. Projects worth more than 1billion rubles will allow residents to choose between the advanced development territory’s package of incentives and a new mechanism – the federal investment tax deduction.
The Minister for the Development of the Russian Far East and the Arctic also recalled that, over the 10 years since preferential regimes were introduced in the Far East, residents have paid 723 billion rubles in taxes to various budgets while receiving 373 billion rublesin tax incentives.