The income tax rate for investing in import substitution can be reduced to zero

The income tax rate for investing in projects of import substitution can be reduced to zero. This was stated by Russian President Vladimir Putin in the message to the Federal Assembly.
As reported To yuga.ru, during the annual address President Putin said that the "period of low oil prices and external constraints may take a long time."
"Financial support for projects of import substitution has been the Development Fund for industry. Its programs are in demand by entrepreneurs. I suggest next year to hold the Fund's capitalization by 20 billion rubles," - said the head of state.
"Also, we guarantee a stable tax and other basic conditions for investors who are willing to invest in projects of import substitution. This is provided for such a mechanism, as a special investment contract," - he added.
"I propose in the framework of these contracts give the right regions is reduced to zero tax rate. Some managers are asked directly about it, so that investors can cover their capital costs for creation of new industries," - said Putin.
"We are ready to ensure that the demand for these programs, and for these projects. I propose to give the government the right to buy at a non-competitive basis to 30% of the products created within spetsinvestproektov and spetsinvestkontraktov. But everything else should go for free, including on foreign market that the company did not lose motivation, monitor the quality, sought to reduce costs ", - added the President.