In Sumy region to impose a special investment regime

In the Sumy region can introduce a special regime of investment activity. The corresponding bill number 8004 from 18.01.2011 issued by the Verkhovna Rada deputy of the PR Valery Bondik. A bill to simplify the implementation of investment projects and the introduction of a special regime of investment activity in the Sumy region registered in the Parliament on Jan. 18, 2011. Special regime of investment activity in the territory of Sumy region is introduced with a view to creating favorable conditions for attracting investments into the region's economy, reducing unemployment, developing small and medium-sized businesses, effective restructuring of production, stimulating the development of industrial and non-economic spheres. In particular, developed the Law defines legal and organizational basis for implementation of investment projects under the simplified procedure. Special regime of investment activity is introduced for a period of five years for companies registered in the territory of which operate in priority kinds of economic and implement projects estimated to cost the equivalent of at least 50 thousand dollars. The management bodies of the special regime are the Council on a special regime of investment activity, the relevant local authorities and Sumy Regional State Administration, within its mandate. Establishment of a special regime of investment activity involves the establishment of the following tax and customs benefits: a) exemption for the term of the investment project from the imposition of import duty on raw materials and value added tax facilities, equipment and spare parts to them (except for excisable goods), when imported in Ukraine under the condition of being entirely used for investment projects. b) the release of three years from the taxation of income derived from the newly created enterprises implementing investment projects and operating businesses, which restructured.