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The President of Russia Vladimir Putin has signed the Federal law on changes of the second part of the Tax Code of Russia
Based on the materials from the official site of the President of Russia.
The law introduces new chapter of the Tax Code of Russia concerning the agreements on division of production.
Special taxation regime indicated in the law stipulates that most taxes, in case of this type of agreement, are substituted by the division of production.
The law is urged to create more favourable conditions for investors financing natural resources searching and deposits exploitation.
The State Duma of Russia accepted the law on May 2003. The Federation Council approved it on May 28 2003.
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