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Amendments to Tax Code concerning taxation on the Kuril Islands

March 9, 2022

Vladimir Putin signed Federal Law On Amendments to Part Two of the Tax Code of the Russian Federation.

Under the Federal Law, taxpayers registered on the territory of the Kuril Islands after January 1, 2022, are entitled to exemption from corporate income tax, transport tax, corporate property tax, and land tax, from the day of their state registration to December 31 of the year in which 20 consecutive calendar years expire, but no later than December 31, 2046.

The Federal Law also entitles these taxpayers to lower insurance premiums.

The Federal law defines the criteria that these taxpayers must meet.

March 9, 2022