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Taxes in the Kuril Islands can be canceled for 10 years

Taxes in the Kuril Islands can be canceled for 10 years
Photo: dfo.gov.ru

Yuri Trutnev, the president's plenipotentiary envoy to the Far East, announced plans to create an offshore zone in the Kuril Islands. All taxes except personal income tax can be canceled on the islands.

As Yuri Trutnev said in an interview with RBC, the tax regime on the Kuril Islands will be practically offshore. He noted that both individuals and legal entities carrying out investment and commercial activities on the islands will not have an obligation to pay taxes. How long such a regime will operate is still being discussed, it is assumed that it will be introduced for at least 10 years.

Earlier in July 2021, Prime Minister Mikhail Mishustin during a working trip to the Far East, visited the Kuriles and announced the possible introduction of a preferential regime for all islands - a free customs zone, reduced rates on insurance premiums, exemption from the payment of taxes and fees such as corporate income tax, value added tax, corporate property tax, land tax, transport tax. Mikhail Mishustin instructed to submit the agreed proposals for the creation of a special tax regime in the Kuril Islands by September 1.

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