In Tatarstan, tax benefits on the simplified system of taxation for priority industries have been extended for another year
The effect of the reduced tax rate of 5% under the simplified taxation system with the object of taxation "Income reduced by the amount of expenses" has been retained for 2025.
The benefit is available to taxpayers who, during the relevant reporting period, have earned at least 70 percent of their income from activities in manufacturing, construction, electricity, gas, and water distribution.
The bill was presented by Deputy Prime Minister of the Republic of Tatarstan - Minister of Economy of the Republic of Tatarstan M. R. Shagiakhmetov and adopted by the State Council of the Republic unanimously.
"The tax benefit has been in effect in the republic since 2009 and is extended annually. This tax benefit expires on January 1, 2025, so it is proposed to extend it until January 1, 2026," said Midkhat Shagiakhmetov, Deputy Prime Minister and Minister of Economy of Tatarstan.
He stressed that the implementation of the tax benefit is also conditioned by the tasks set by the country's leadership to ensure the development of the real sector of the economy and the qualitative growth of SMEs.