In Chukotka, benefits for companies will last for three years – Rossiyskaya Gazeta

Entrepreneurs in Chukotka will be able to make deductions of one percent instead of six percent in the simplified tax system, in the “income minus expenses” mode when the simplified tax system is applied – five percent instead of 15, and when uses a patent, the reduction remains double compared to 2019.

“We also plan to extend by one year the two-year tax exemption for ‘newcomers’ in certain areas,” Vladislav Kuznetsov said on his Telegram channel.

He noted that emerging entrepreneurs in the field of production, consumer services, and social and scientific industries can apply for this benefit.

In addition, they want to complement the regional law with another article that will introduce an investment tax deduction. Those entrepreneurs who this year have provided financial or real estate support to accredited secondary vocational education organizations will be able to receive a refund. And if the amount of aid is equal to or greater than the income tax, the businessman may “set it to zero.”

“This is another mechanism to involve private companies in the process of training workers in Chukotka,” said the governor.

The draft amendments are expected to be considered at the end of November.