Russia Provides Incentives for Investment in Kuril Islands

The Russian Government has issued a release on the agenda of a meeting held on 26 November 2021, which included a review of incentives for investment in the Kuril Islands. According to the release, amendments to the Tax Code provide 20-year relief from almost all taxes for companies starting a business in the Kuril Islands. This includes income tax and corporate property tax, as well as land and transport taxes. Insurance rates will also be reduced to 7.6%. In addition, the islands are now a…