According to Articles 102.1.11 and 102.1.11-1 of the Tax Code, income of individuals from direct production of agricultural products (including industrial production), including non-operating income of individuals engaged in production of agricultural products from this activity, as well as subsidies to individuals related to production of agricultural products from the state budget, and dividend income of individuals who are shareholders in resident legal entities engaged in production of agricultural (including industrial production) are exempt from income tax for 1 year from January 1, 2023.
Furthermore, in accordance with Article 106.1.14-1. of the Tax Code, non-operating income of legal entities engaged in agricultural production (including industrial production) from this activity, subsidies provided from the state budget to legal entities engaged in agricultural production, as well as income of legal entities that are shareholders of resident legal entities engaged in agricultural production (including industrial production) are exempt from corporate income tax for 1 year from January 1, 2023.
In relation to production of foodstuffs, according to Article 102.1.37 of the Tax Code, 50 percent of income of individual entrepreneurs producing foodstuffs, the list of which is approved by the relevant executive authority is exempt from income tax for 7 years from the date of approval of the relevant list in order to replace imported goods with locally produced (processed) goods.