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Law on benefits for participants in Skolkovo Innovation Centre project

November 29, 2011

Dmitry Medvedev signed Federal Law On Amendments to Certain Legislative Acts of the Russian Federation.

The Federal Law further clarifies provisions in the Federal Law On the Skolkovo Innovation Centre and several other federal laws containing provisions on the application of benefits for participants in the establishment and operation of the Skolkovo Innovation Centre.

The law stipulates the opportunity to provide reimbursements to project participants for customs duties when importing goods and equipment to undertake research activities outside the Skolkovo Innovation Centre.

In addition, the amendments concern procedures for applying lower insurance rates and accounting costs for project participants.

The Federal Law also introduces corresponding amendments to the Tax Code of the Russian Federation.

November 29, 2011