MOSCOW, August 11. /TASS/. The approved proposals on subsidized tax treatment and a free customs zone on the Kuril Islands should be submitted to the Russian government by September 1. Respective requests by Prime Minister Mikhail Mishustin following his trip to the Sakhalin Region on July 26-27 were published on the cabinet’s website on Wednesday.
"To submit to the government of the Russian Federation the approved proposals on creation of preferential treatment on the territory of the Kuril Islands, <…> which stipulates: exemption from payment of such taxes and fees as tax on profit of organizations, value-added tax, corporate property tax, land tax, transport tax for a specified term; customs procedure of free customs zone; reduced rates of mandatory insurance payments in the amount of 7.6% for a specified term," according to the instruction addressed to the Finance Ministry, the Ministry for the Development of the Russian Far East and Arctic and the Economic Development Ministry together with other federal bodies and the government of the Sakhalin Region.
The deadline for the instruction is September 1.
PM said earlier that the creation of a free customs zone on the Kuril Islands would help enterprises import necessary equipment and other goods.