Privilege for profit tax

New draft law provides tax privileges for companies, investing in modernization of manufacture. It will be allowed to reduce profits tax for up to 50 % of investments. However, this privilege is limited, amount of paid tax shall not be less than amount of tax, calculated at rate of 5%.  This privilege will be granted for companies investing in modernization or reconstruction of manufacture i.e. buildings, vehicles, transport and facilities with lifetime from 3 to 20 years. Exceptions are foreign companies, and residents of zones with special tax regimes.  We will keep you informed.