Participants of regional investment projects (RIPs) receive tax benefits on income tax of organizations and (or) on mineral extraction tax.

For taxpayers participating in RIPs: - in accordance with paragraph 1.5 of paragraph 1 of Article 284 of the Tax Code of the Russian Federation, the tax rate on the tax to be credited to the federal budget is set at 0 percent during ten tax periods starting from the tax period, in which, in accordance with the tax accounting data, the first profit was obtained from the sale of goods produced as a result of the implementation of a regional investment project; - in accordance with the Law of the Magadan Region dated November 28, 2013 No. 1664 - OZ "On the establishment of a tax rate on income tax of organizations for organizations implementing regional investment projects in the Magadan Region," the tax rate on income tax of organizations to be credited to the budget of the Magadan Region is set in the following amounts: 0 per cent for five tax periods, beginning with the tax period in which the first profit was earned from the sale of goods produced as a result of the implementation of a regional investment project in the Magadan region and 10 per cent during the next five tax periods. Taxpayers of the mineral extraction tax, which are participants in the RIP aimed at mining, can apply the coefficient characterizing the territory of mineral extraction (CPD), starting from the tax period in which the organization is included in the register of participants in regional investment projects. Within one hundred and twenty tax periods, counting from the beginning of application of preferential rate of tax on income of organizations, coefficient Ktd is accepted equal to: 1) 0 - during the first twenty-four tax periods; 2) 0.2 - from the twenty-fifth to the forty-eighth inclusive tax period; 3) 0.4 - from the forty-ninth to seventy-second inclusive tax period; 4) 0.6 - from seventy-third to ninety-sixth inclusive tax period; 5) 0.8 - from ninety-seventh to one hundred and twentieth inclusive tax period; 6) 1 - in subsequent tax periods.