VLADIVOSTOK, February 2. /TASS/. The law on a special preferential regime for the business in the Kuril Islands can come into force within two months, Deputy Prime Minister and Presidential Plenipotentiary in the Far Eastern Federal District Yuri Trutnev said on Wednesday.

"I believe the law on the preferential treatment in the Kuril Islands will become effective during two months to come. It is a special one. Investors will be exempted from taxpayer obligations at all for 20 years and the ban on any inspections of the business will be for 5 years. I would like to draw your attention to this regime because in my opinion, it creates unprecedented opportunities, and they should be used," the official said.

The free customs territory regime will be introduced in the Kuril Islands and no VAT will be charged on goods imported from third countries. The State Duma, the lower house of the Russian parliament, approved the draft law in the first reading in January 2022.