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Business can get a tax deduction for updating fixed assets

Russian President Vladimir Putin signed an Order List following the results of the Business Russia forum of February 23, 2019. Within the framework of the Forum, the head of Titan Group, a member of the General Council of Business Russia Mikhail Sutyaginsky addressed the president with a request to provide state support to investment projects focused on deep processing of raw materials.

In particular, Clause 8 of the Order List recommends that the state authorities of the Russian regions should consider (before June 15) providing taxpayers with investment tax deductions to encourage the renewal of their fixed assets.