New types of tax-free economic zones may be established in Pridnestrovie

12/18/14 15:07

New types of tax-free economic zones may be established in Pridnestrovie

This matter was discussed at the Government’s session today

First of all, the discussion concerned the sphere of tourism having a high potential in our republic. It was noted during a meeting of the Government that the tourism sphere occupies only 0.02% of a total GDP amount in Pridnestrovie for now, and in the meantime, it is one of the main sources of income for 80 countries of the world, and primary income - for 38 of them. As the Economic Development Minister Alevtina Slinchenko noted, the organization of the free economic zone will help to attract the local businessmen into such important spheres for Pridnestrovie as domestic and international tourism developed quite poorly today.

Besides, the amendments to the existing legislation concern not only the establishing of a new tax-free economic zone (FEZ) type (tourism and recreation), but also the expanded list of the entities already located in the FEZ. It will include the enterprises offering software products in the republic, and also the companies administering incoming requests, support or information inquiries from consumers by telecommunications (call centers).

Alevtina Slinchenko reminded that 100% tax-free mode on the income and land is functioning within the FEZ today. Beyond that, it is planned to secure additional privileges to the call centers and organizations providing the informational support. "80% of these organizations’ expenses are the salaries. Additionally, it is offered to put down the unified payroll tax rate to 14% and so to encourage them organizing the new production or manufacturing within the FEZ ," Alevtina Slinchenko told. She mentioned Russia as an instance where the rate of insurance premium is lowered from 34% to14% for the IT companies. Besides, the same norm (the 14% payroll tax rate) already affects the Pridnestrovie’s small enterprises involved into the simplified taxation scheme.