Home / Knowledge / News / Textiles / Russian Ulyanovsk exempts textile sector from property tax
Russian Ulyanovsk exempts textile sector from property tax
Feb '14
Textiles and clothing enterprises of the Russian region of Ulyanovsk are being exempted from tax on property, owing to an initiative undertaken by the Governor of the region Sergey Morozov.
According to a statement issued by the government of Ulyanovsk, Governor Morozov announced the regional law for exemption of tax on property for textile and clothing enterprises in Ulyanovsk, during an event held recently in the Melekessky district of the region.
The tax exemption on property would be valid until January 1, 2017, and as per the law the tax rate on business property for textile and clothing sector of the region has been fixed at 1.1 percent of taxable value of the property. 
According to the Ulyanovsk government, by the implementation of the law around 10 million rubles of these enterprises would be saved which could be utilized by these firms for expansion and upgradation processes.
Textile and clothing enterprises of Ulyanovsk can use the funds for modernization of their existing production centers, purchase of new equipments, as well as implement energy saving measures to improve working environment of the production facilities.

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: Pan Brothers

Apparel/Garments | On 30th May 2017

Pan Brothers to set up 2 new garment factories

PT Pan Brothers Tbk plans to increase its production capacity by...

Textiles | On 30th May 2017

ExxonMobil, SABIC sign deal for next phase of US project

Affiliates of Exxon Mobil Corporation and Saudi Basic Industries...

Textiles | On 29th May 2017

Tintex, Bruckner bring new effects to knitted fabric

The textile company Tintex has joined hands with the system supplier...

Interviews View All

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Kaizad Hansotia

Competition is the best thing that can happen to a startup

Janak Dhamanwala & Sunil Dhamanwala

Moving towards sustainability is also a social change

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Eric Scholler

The Indian market has huge potential in technical textiles, and by far,...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Robert Brunner

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search