The formation of the regulatory legal base in the field of investment activity in Tatarstan was discussed at the meeting of the State Council Committee of the Republic of Tatarstan

In the framework of the Meeting of the Committee of the State Council of the Republic of Tatarstan on economy, investments and entrepreneurship, report on "Formation of normative legal base in the sphere of investment activities in the Republic of Tatarstan" was made by Dinar Shakirov, head of investment and innovation activities of the Ministry of Economy of the Republic of Tatarstan.

D. Shakirov noted that currently the Ministry of economic development is working on amendments to the Federal law from 01.04.2020 No 69-FZ "On the protection and promotion of investments in the Russian Federation", aimed at improving the legal mechanisms for the protection and promotion of investment, access for investors to this tool, improvement of the mechanism of reimbursement of IPPA participants from new taxes and other obligatory payments from projects, the optimization procedures for the conclusion and maintenance of the IPPA.

Proposals for amendments, among others, were formulated and sent to the address of the Chairman of the Government of the Russian Federation M. Mishustin, taking into account the opinions of such companies as PAO Tatneft, PAO Nizhnekamskneftekhim, PAO KAMAZ.

In order to maximize the use of the mechanism, the idea to include the projects for the extraction of hard recoverable oil reserves is introduced, also to incorporate into provision of the Government of the Russian Federation the draft of the Republic of Tatarstan at the secondary and tertiary production of oil and gas chemistry. In addition, to provide for projects with a volume of capital investments of 10 billion rubles stabilization not only for export customs duties, but also for the rates of VAT, excise taxes, MET (today the stipulation applies to property taxes, income taxes, land and transport taxes).

The regulatory framework for the conclusion of federal IPPA was approved in early October by two resolutions of the Government of the Russian Federation. The first resolution instates the rules for concluding such agreements. The second one defines the procedure for granting subsidies for reimbursement of infrastructure costs and is an important component of the state guarantees provided by the IPPA.

The Ministry of Economy of the Republic of Tatarstan is preparing proposals for the draft Federal Law "On Amendments to the Federal Law "On Protection and Promotion of capital investments in the Russian Federation" together with PAO Tatneft, PAO Kamaz, SEZ, and TAIF Group of Companies.

The Ministry of Economy of the Republic of Tatarstan is also working on the preparation of regional regulatory legal acts regulating the conclusion of the IPPA.

The Ministry has already prepared and sent for consideration to the members of the working group on the implementation of the provisions of Federal Law No. 69-FZ dt. 01.04.2020 draft resolutions of the Cabinet of Ministers of the Republic of Tatarstan in the field of IPPA:

- draft decree of the Cabinet of Ministers of the Republic of Tatarstan "On approval of the procedure for concluding agreements on the protection and promotion of capital investments to which the Russian Federation is not a Party, amendments and termination of such agreements, specifics of information disclosure about the beneficial owners of the organization implementing the project";

- draft decree of the Cabinet of Ministers of the Republic of Tatarstan "On approval of the rules for determining the amount of reimbursement from the budget of the Republic of Tatarstan for the creation (construction), modernization and (or) reconstruction of supporting and (or) related infrastructure necessary for the implementation of an investment project in respect of which an agreement on protection and promotion of capital investments, as well as the cost of paying interest on loans and borrowings, coupon payments on bond loans attracted for these purposes»;

- draft decree of the Cabinet of Ministers of the Republic of Tatarstan "On approval of the procedure for monitoring the stages of implementation of an investment project in respect of which agreements on the protection and promotion of capital investments have been concluded".

Comments and suggestions from the working group members have been received on these projects, which are currently being finalized. The regional list of investment projects will be formed after the completion of the work on the preparation of regional regulatory legal acts regulating the conclusion of the IPPA.