Rada Finance Committee recommends two bills on preferential regime for industrial investments
The Parliamentary Committee on Finance, Taxation and Customs Policy recommended at the first reading bills No. 13414 (amendments to the Customs Code) and No. 13515 (amendments to the Tax Code) on launching a model of compensation for industrial investments through taxes.
As reported by the head of the committee, Danylo Hetmantsev, the bills launch a model of compensation for investments through taxes, which will stimulate business to move away from the raw material model and invest in the development of the processing industry.
According to him, it is planned to provide preferential tax conditions for 10 years (2026–2035) for investors who implement projects for the construction, modernization or technical re-equipment of enterprises, the purchase of equipment or land for production.
The amount of tax and customs benefits will depend on the volume of investment: from EUR 100,000 to EUR 1 million - up to 70% of the investment, from EUR 1 million to EUR 20 million - up to 50%, and from EUR 20 million to EUR 50 million - up to 30%.
Among the benefits offered to investors are exemption from income tax (provided that 90% of income comes from the sale of their own processed products), exemption from VAT and customs duties on new equipment, the possibility of land benefits from local authorities.
As reported, on August 6, the Centre for Economic Strategy called for the draft law to be finalized due to the presence of loopholes for unscrupulous investors.
