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Special regime in Kuril Islands can be introduced in 2023 — Russian Deputy PM

A draft law is discussed now and a key issue to be resolved pertains to the period of time to be covered by incentives

YUZHNO-SAKHALINSK, October 14. /TASS/. A special preferential regime can be introduced in the Kuril Islands in January 2023, Russian Deputy Prime Minister Dmitry Grigorenko told reporters on Thursday.

"Preferences will make it possible to have serious opportunities for business development," the official said. "Since the case in point is the fiscal regime, the change in rates, their actual reduction to zero in some points, while we introduce taxes from a certain period, then January 1, 2023 can be the earliest date to be mentioned," the deputy prime minister said.

A draft law is discussed now and a key issue to be resolved pertains to the period of time to be covered by incentives, Grigorenko said. Ten years are discussed as the basic option. "Nobody is going to make benefits short-term ones; we will develop the islands," he added.