Proposed Legislative Changes Concerning SPIC
| PROPOSED LEGISLATIVE CHANGES CONCERNING SPIC (1)
The Government of the Russian Federation is preparing amendments to the Federal Law "On industrial policy", Tax and
Budget Codes as related to new conditions and regulations on special investment contracts (SPIC)'.
CONCEPTUAL CHANGES:
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GOAL:
creation or modernization of (including best available
techniques introduction) and/or mastering production
development and (or) implemen-
tation of modern techniques²
new
REGIONAL AND MUNICIPAL INVOLVEMENT:
involvement of a constituent of the Russian Federation
and municipal government depending on the measures
requested by the investor
involvement of a constituent of the
Russian Federation and municipal
government is obligatory
new
EVALUATION OF APPLICATIONS FOR SPIC
CONCLUSION:
as available
competitive selection.
new
ACCESS TO SUBSIDIARY INCENTIVES:
within budgetary provisions for the financial year
new
for the duration of SPIC
Draft amendments can be reviewed at the federal web-portal http://regulation.gov.ru.
2Modern technique is a manufacturing technology for a product which is competitive in the world market or which doesn't have Russian-made equivalents. The list of modern techniques is approved by the
Government of the Russian Federation with the involvement of state authorities, business society and industrial groups.
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