Russia has developed a federal bill which introduces a reduced rate of 7.6% for insurance contributions for residents of special economic zones (SEZ) of technology-innovative type, the projects in which are aimed at creating new technologies and developments.

Andrei Kutepov, the head of the Federation Council Committee on Economic Policy, explained the initiative, now 68 subjects of the country can use only one preferential treatment, allowing to attract a wide range of investors to the SEZ, writes TASS.

Reduction of insurance premium rates for residents of the Special Economic Zone of the technological innovation type to 7.6% will allow to increase the annual revenue and investments by 2.5 times, as the existing and potential residents will be able to invest the funds, released by the preferential rate in the development of their projects, says the document.

"According to resident companies, the share of labour costs in the development budget of the project can reach 70-100%, while the average salary in the company - resident of the technology-innovative SEZ is more than 60 thousand rubles, which exceeds the average salary in Russia. By 2022, SEZs of the technology-innovative type in St. Petersburg, the Republic of Tatarstan, Moscow and Tomsk regions will create more than 22 thousand jobs," - the bill says.

Made in Russia / Made in Russia

Author: Maria Buzanakova