Benefits for the Russian car industry are extended for 10 years
- August 17, 2022
- 0
The Ministry of Industry and Trade has prepared an amendment to the bill “On amendments to the Federal Law on Industrial Policy in the Russian Federation”, which will
The Ministry of Industry and Trade has prepared an amendment to the bill “On amendments to the Federal Law on Industrial Policy in the Russian Federation”, which will allow to expand the SPIC in the country’s auto industry. Simply put, the special investment contract will provide tax incentives to the auto industry in exchange for financial investments until 2033.
The SPIC provides guarantees for operating conditions that should not deteriorate until December 31, 2033. In other words, the Ministry of Industry and Trade extends the benefits to the automotive industry by almost 11 years.
“Such measures will make it possible to adjust the payback periods of investment projects and increase the stability of the conditions for their implementation. It will also create a ten-year planning horizon, which will increase the attractiveness of the Russian auto industry in terms of investment in its development,” the ministry’s official statement said.
In addition, the Ministry of Industry and Trade has previously prepared a draft resolution of the Russian government, which includes the annulment of the liability of importers for importing goods of “certain nomenclature” into the territory of the Russian Federation. It is believed to refer to products, spare parts and components that enter our country without the official supply channels of their manufacturers and copyright holders.
The SPIC provides guarantees for operating conditions that should not deteriorate until December 31, 2033. In other words, the Ministry of Industry and Trade extends the benefits to the automotive industry by almost 11 years.
“Such measures will make it possible to adjust the payback periods of investment projects and increase the stability of the conditions for their implementation. It will also create a ten-year planning horizon, which will increase the attractiveness of the Russian auto industry in terms of investment in its development,” the ministry’s official statement said.
In addition, the Ministry of Industry and Trade has previously prepared a draft resolution of the Russian government, which includes the annulment of the liability of importers for importing goods of “certain nomenclature” into the territory of the Russian Federation. It is believed to refer to products, spare parts and components that enter our country without the official supply channels of their manufacturers and copyright holders.
Source: Avto Vzglyad
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
