Moscow expands support for investment projects for the construction of sports facilities
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Moscow Mayor Sergei Sobyanin signed a decree on expanding measures to support investment projects for the construction of sports facilities, says on the official website of the mayor of the city.
Such projects will be able to receive a special status of an investment priority project (IPP), which will allow investors to reduce the burden of regional taxes by up to 25%, the press service clarifies.
“The income tax rate credited to the city budget will be reduced to 13.5% (instead of the standard 17%), and the property tax rate will also be reset. The land tax will be reduced to 0.7% of the accrued tax, and the rental rate will be reduced to 0.01% of the cadastral value.
In 2019, a program was approved to stimulate the creation of work places in Moscow. According to it, benefits are provided to investors building industrial and office facilities, education, science, sports, trade, medical and social institutions, etc.
At the end of May, the government expanded the possibilities of the Project Finance Factory program, which increased the support of investors for projects in priority sectors of the economy. According to the decree of Prime Minister Mikhail Mishustin, the requirements for borrowers are softened: from 20 to 15%, the minimum share of investors’ own funds for projects that will be approved during 2024. At the same time, the share of participation VEB.RF in financing such projects will be up to 25%, the rest must be borrowed from banks. Investors will also be able to replace VEB.RF loan financing with the provision of guarantees from the state corporation.
The Project Finance Factory was launched in 2018. The program involves issuing loans for the implementation of investment projects in priority sectors of the economy. Such loans can be obtained for projects worth from 3 billion rubles.
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