Russian President Vladimir Putin has signed the law on the creation of a free economic zone in Crimea.
The free economic zone is created for a period of 25 years, with the possibility for further extension, according to reports of ITAR-TASS.
The law envisages a range of incentives for investors, including tax breaks, a preferential customs regime, and a simplified mechanism of state regulation.
The law provides for the exemption from property taxes for a period of 10 years, and land taxes for 3 years, as well as lowered agricultural land taxes, reduced corporate income taxes, and reduced contribution requirements for employees’ …read more
Source: Novinite
