On 16 November 2017, the Russian parliament reportedly approved a law for the reintroduction of the tax on movable property reported as fixed assets on the balance sheet at a rate up to 1.1%. The law effectively removes an exemption from the tax that has applied since 1 January 2013 by changing the nature of the exemption to an incentive that may only be granted by regional authorities from 1 January 2018. If no particular exemption incentive is passed at the regional level, movable property …