Tax Code amendments to create favourable tax environment for regional investment projects 2016-05-23 18:10:00 Vladimir Putin signed the Federal Law On Amending Parts I and II of the Tax Code of the Russian Federation. This federal law is aimed at creating a favourable tax environment for participants in regional investment projects, including parties to special investment contracts. In particular, this federal law gives federal entities the right to lower the tax burden on new industrial companies by introducing tax breaks on their aggregate capital investment in production facilities.