#Breaking_news In an effort to jumpstart Crimeas faltering economy, a government plan could offer tax breaks and other juicy business conditions on the peninsula for the next half century - but even this may not be enough to attract businesses to the badly run-down region. The legislation, which is currently under development in the Economic Development Ministry, provides truly appetizing conditions: residents of the special economic zone are freed from property taxes, land taxes, transport taxes and federal profit taxes, Gazeta.ru reported, citing a copy of the document. These conditions are sure to pique investors interest, although in the current draft only the largest players will qualify. The price of becoming a resident eligible to receive the zones privileges costs 150 million rubles ($4.3 million), putting the status effectively out of the reach of small and mid-sized businesses. Crimea is a tourism and service zone, the local population earns most of their income through small businesses. The entry ticket should be affordable, said Andrey Goltsblat, Managing Partner of Goltsblat BLP.
Posted on: Mon, 02 Jun 2014 14:15:00 +0000
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