The Ministry for the Development of the Far East and the Arctic has already begun to attract investors to the Kuriles, where a special tax regime is expected to be introduced. This was announced on Wednesday, January 19, by the head of the ministry Alexei Chekunkov in an interview with RIA Novosti.
“We are already working to attract investors to the Kuril Islands. In addition to traditional participants in the fishing industry, we will focus on tourism projects. The Kuriles are extraordinarily beautiful,” Chekunkov said.
The Minister noted that companies engaged in fishing are interested in the development of processing in the Kuriles.
There are also investors who are ready to work on the creation of new tourist infrastructure facilities.
“In particular, on Onekotan, where there is the famous Krenitsyn volcano and Lake Koltsevoe. Iturup has hot springs that are already popular with Russian tourists,” Chekunkov stressed.
In the same interview, the minister said that the law on the special regime in the Kuriles could be adopted as early as this spring. According to Chekunkov, residents of the new preferential regime will be exempt from income tax, property, transport and land taxes for 20 years.
On October 18, Russian President Vladimir Putin instructed to adopt amendments regarding the preferential regime for doing business in the Kuril Islands by August 1, 2022.
Among the conditions – organizations are not recognized as taxpayers of corporate income tax, land and transport taxes, corporate property tax; reduced rates of insurance premiums are applied in the amount of 7.6% for 10 years; the free customs zone regime is applied.
On September 3, Vladimir Putin announced at a plenary meeting of the Eastern Economic Forum (EEF) that an unprecedented tax regime for business would be created on the Kuril Islands. Entrepreneurs for 10 years will be exempted from paying key taxes on income, property, as well as from paying land and transport taxes. In addition, Japanese investors will also be able to take advantage of preferential conditions in the Kuriles.
Source: IZ
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
