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Mishustin: it is important to prevent the emergence of an offshore zone in the Kuriles

Mishustin: it is important to prevent the emergence of an offshore zone in the Kuriles
Photo: pixabay.com

Russian Prime Minister Mikhail Mishustin said that it is important to prevent the emergence of an offshore zone on the Kuril Islands. Preferences are developed only for those companies that will operate in the region.

The head of the Cabinet of Ministers said this when discussing the preferential regime for business in the Kuril Islands. At a government meeting today, they discussed changes to the Tax Code, which will allow companies wishing to start a business on the islands to be completely exempted from almost all types of taxes for 20 years. The exceptions are companies engaged in mining, crab catching, hydrocarbon processing, production of excisable goods, financial and intermediary services.

We are talking about taxes on profits, on the property of organizations, land and transport. Insurance premiums will be reduced to 7,6%. The Kuril Islands will have a free customs territory regime: transactions with goods imported from third countries will not be subject to VAT.

“It is important to prevent the emergence of a new offshore zone there, so that those who only want to minimize taxes do not rush there,” emphasized Mikhail Mishustin

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