The Federation Council approved the continuation of 10 years of insurance premiums for residents of TOR

© RIA Novosti / Vitaly to Incomerate in fotoracconti bridge over the Golden horn Bay in Vladivostok. Archival photoThe Federation Council approved the continuation of 10 years of insurance premiums for residents of TOR© RIA Novosti / Vitaly to Uncovereth the image Bank

Senators at the meeting on Saturday approved the law on the lowered tariffs of insurance contributions to state extra-budgetary funds resident in the territories of priority development (tpd) and free port of Vladivostok.

Such residents are entitled to apply reduced rates of insurance contributions to the Pension Fund of the Russian Federation, FSS and FOMS for 10 years from the date of receipt by them of this status. The total rate of insurance contributions for them is 7.6% (General regime in Russia — 30%), including pension insurance — 6%, social insurance — 1.5% for medical insurance was 0.1%.

For residents of TOR in the far Eastern Federal district and the free port and such tariffs will apply in respect of persons who obtained this status until December 31, 2025. The volume of investment must be for a resident of TOR and the free port of Vladivostok is not less than 500 thousand and 5 million rubles respectively.

The funds allocated by the employer for payment of unemployed family members of people working in the far North and equivalent areas, will not be subject to insurance contributions. Now this privilege is available only for employees of the North.

The law also exempts from 1 January 2019 the residents of TOR and the free port of fulfillment of norms of legislation, entailing a change after 1 January 2019 from their position as taxpayers and payers of insurance contributions for 10 years from the date they received the appropriate status. This applies both to increasing rates of taxes and contributions, and change the order of calculation and payment, cancellation of tax incentives.

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