The Council approved tax and customs incentives for industrial parks
On June 21, the Verkhovna Rada approved tax and customs incentives for industrial parks in Ukraine, voting for laws №5688 and №5689, which provide for exemption of future residents of industrial parks from import VAT and equipment duty, as well as exemption from income tax for 10 years. In addition, local governments have the right to provide local tax benefits.
According to CTS, the initiator of the bills Dmytro Kysylevsky said that the requirement to use imported equipment exclusively within the industrial park without the right of alienation for 5 years will be a safeguard against abuse of tax benefits.
Exemption from income tax is allowed subject to reinvestment of part of the income equivalent to the amount of income tax. Also, residents of industrial parks can not accrue and pay dividends. And it must be a separate legal entity, which is physically and legally located inside the park.
"Ukraine is implementing an industrial development tool that has long been used successfully around the world," said Dmytro Kysylevsky. "For example, in Hungary, 210 industrial parks generate about 30% of GDP. Turkish industry. Each dollar of public investment in the infrastructure of industrial parks will attract 5-6 dollars of investment. "
The People's Deputy also stressed the importance of creating incentives for industrial parks under the current martial law.
"Why should industrial parks be launched right now without waiting for victory in the war? First, industrial parks create favorable conditions for the relocation of industrial enterprises. Second, in contrast to initiatives to open imports, new tax incentives are aimed at domestic production and workers. "Thirdly, industrial parks will be a convenient tool for the occupied and affected areas to organize industrial development and restore business. Thus, industrial parks will simplify the relocation of industrial enterprises during the war and accelerate economic recovery after the victory." , - the people's deputy summarized.
It will be recalled that in early June, the Cabinet of Ministers approved the creation of two new industrial parks under a new procedure.