Support for the manufacturing sector and attracting investment

The legislature continues to support domestic producers as part of anti-crisis measures. In this series, parliamentarians adopted a legislative initiative, authored by the highest executive body, to amend the basic law "On corporate income tax." Its essence is to reduce tax rates for some industries. Among them are agricultural, road and municipal engineering, automotive, glass and porcelain and faience industry. In various sectors, corporate income tax rates have been reduced by two or more times.

For example, only one enterprise is engaged in agricultural engineering in the republic - OJSC Avtopoliv Plant. At the same time, it receives only about half of its income from this activity, while doing other more profitable activities, in particular, leasing property, providing services, etc.

The goals pursued by the law adopted by deputies are to create favorable conditions for the development of entrepreneurship in these sectors, attracting investments, including foreign ones, into promising areas of production. In the same line - incentives for business entities, including non-residents of Pridnestrovie, to open in Pridnestrovie currently absent industries in certain sectors (sub-sectors) of industry.

The adoption of the law will positively affect the volume of tax deductions to budgets of various levels, which are able to cover possible shortfalls in income tax on organizations, the deputies say. At the same time, the growth in the number of people employed in these types of industries is also forecasted. Forecasts can be justified, given the fact that the Supreme Council had previously provided tax incentives to enterprises in the clothing, shoe, chemical industries, and most recently to housing and communal services. The results of the production and financial and economic activities of business entities that previously received tax incentives from the state confirm the assumptions of the authors of the legislative initiative in the person of the Government and Deputies of the Supreme Council - they increased production and sales, hired new employees, increased contributions to budgets and the Unified State Social Insurance Fund.

Another legislative initiative of an economic orientation from the Government was supported by the deputy corps during the plenary session. We are talking about changing the rules of the law "On Denationalization and Privatization". Current legislation provides for the market valuation of state and municipal property by privatization commissions or the market valuation commissions created by them. The essence of the proposals supported by parliamentarians is to expand the list of entities that will be entitled to carry out a market assessment of state and municipal property for its further implementation.

The adoption by the Supreme Council of this law will make it possible to involve independent appraisers (organizations), including international ones with extensive experience in the sphere of legal relations, in the market valuation of state and municipal property.