On 29 November 2014, Russian Federal Law no. 380-FZ was published. The law provides for special priority areas for social and economic development in the Russian Federation. Companies resident in such areas will be eligible for beneficial tax treatment beginning the first year of profit when at least 90% of total annual revenue is generated from activities in the development area. The tax benefits include:
- 0% federal income tax rate for five years
- A maximum 5% regional tax rate for five ye…