In St. Petersburg will introduce incentives for investors, restavriruemogo monuments

В Петербурге введут льготы для инвесторов, реставрирующих памятники

The government of St. Petersburg at a meeting on Tuesday approved amendments to city tax laws that allow tax benefits to property investors, restavriruemogo monuments of history and culture of regional and municipal significance.

“I think that you need to support this proposal, because this is a real opportunity to put in order the corresponding objects of cultural heritage”, — said Governor of St. Petersburg Georgy Poltavchenko, suggesting to approve the bill.

As Chairman of the Committee of Finance Alexey Korabelnikov, exemptions from payment of property tax will provide for a period of three tax period when the investment in the restoration of historical monuments from 500 million rubles to 1 billion rubles, for a term of five tax periods, when investment of 1 billion rubles.

According to him, the necessary condition of providing these benefits is providing investors wage at no less than three times the minimum wage established in St. Petersburg. However, as this figure, according to the Korabel’nikova, is quite high (16 thousand rubles), the city authorities do not exclude the possibility of mitigation requirements.

“We do not exclude the possibility of reducing the corresponding threshold. A proposal is currently before the Committee of Finance,” — said Korabelnikov.

The head of financial Department of St. Petersburg said that the development of the draft law on the introduction of exemptions from payment of property tax for companies engaged in the restoration of monuments of history and culture, was accompanied by consultations with potential investors, including those who are doing business outside St. Petersburg. “We have several investors interested in the restoration of cultural heritage” — said Korabelnikov, adding that these companies “are ready to come to Petersburg.”