Thanks to the implementation of the FWPC mechanism, new jobs have been created in Tatarstan
The State Council of the Republic of Tatarstan hosted a press conference dedicated to the implementation of legislation in the field of investment activity in Tatarstan. One of the speakers was the Deputy Minister of Economy of the Republic of Tatarstan Dinar Shakirov, in his report he dwelled in detail on the mechanism for concluding agreements on the protection and encouragement of capital investments (SZPK).
In June of this year, at the federal level, amendments were made to the law on the protection and promotion of capital investments, aimed at improving the mechanism of the SZPK and creating favorable conditions for attracting investments into the economy. In turn, the Republic of Tatarstan promptly adopted all the necessary regional regulatory legal acts to restart the SZPK mechanism. They are approved by the Cabinet of Ministers of the Republic of Tatarstan and provide for a set of measures to ensure the protection of investments.
The speaker spoke about the essence of mechanism - this is an agreement between the investor and the state, which allows you to reimburse the costs of infrastructure and stabilize the conditions for entrepreneurial activity.
The Law on SZPK also guarantees to investors predictable conditions for the implementation of projects and the expected result through a “stabilization clause” for 6, 10, 15 or 20 years, depending on the amount of capital investment envisaged in the project and its scope.
Thus, during large-scale long-term projects for investors, the working conditions remain unchanged in terms of:
income tax;
property tax;
transport tax;
terms of payment and procedure for VAT refund;
new taxes and fees, terms of land use and urban development.
“In addition, the SZPK mechanism will make it possible to remove infrastructure restrictions in the implementation of investment projects in the territory of the republic through the reimbursement of investor costs for infrastructure in the amount of taxes they have paid. That is, the organization implementing the NWPC project will be provided with state support measures in the form of cost recovery and (or) tax deductions, based on taxes generated by the project,” Dinar Shakirov noted.
We are talking about covering the costs of construction and modernization of transport, energy, utilities and information systems. In addition, state support extends to the cost of paying interest on loans and coupon income on bonded loans raised for the creation of infrastructure and facilities.
Reimbursement is provided for a period of 5 to 11 years. The amount of state support is limited by the amount calculated by the organization for payment to the budget. Infrastructure means objects of transport, energy, communal, social, digital infrastructure that are not related to the NWPC facility itself, but are created for the use of the NWPC facility. The subsidy will be provided no earlier than the commissioning of the NWPC facility and no earlier than 01.01.2023
The Deputy Minister of Economy of the Republic of Tatarstan noted that in order to conclude an SZPK, a project must meet the criterion of novelty, determined according to the timing of the decision to implement the project, the dates of obtaining a building permit and filing an application for the conclusion of an SZPK. The speaker also spoke about the requirements for the minimum amount of capital investment for the conclusion of federal SZPK - from 750 million rubles, regional - from 200 million rubles.
Dinar Shakirov stressed that the law provides for restrictions on the types of activities. For example, the stop list of economic sectors for the conclusion of the SZPK includes: gambling, production of excisable goods, wholesale trade and other activities.
The entire procedure for concluding an SZPK, monitoring its implementation, and providing support measures are carried out through the specialized state information system “Capital Investments”. It allows you to conclude SZPK in electronic form. Based on the system, a register of SZPK projects is maintained, their implementation is monitored, costs are reimbursed and tax deductions are provided. The total term for the conclusion of the SZPK is 45 working days.
“In 2020, Tatarstan was one of the first regions in the country to conclude 3 agreements to protect and encourage investment. To date, one project has already been implemented, the other two are underway. At present, new projects are being developed jointly with the state corporation VEB.RF,” the speaker concluded.