Donetsk People's Republic adopts law on free economic zone
What does this mean for businesses?
The Donetsk People's Republic (DPR) has adopted a law on the creation of a free economic zone (FEZ) in the territory of the republic. The FEZ will be located in the northern part of the DPR and will cover an area of 260 square kilometers. The law on the FEZ was adopted by the People's Council of the DPR on July 14, 2023, and was signed by the Head of the DPR, Denis Pushilin, on July 18, 2023.
The FEZ will offer a number of benefits to businesses, including tax breaks, customs exemptions, and simplified administrative procedures. The DPR government hopes that the FEZ will attract investment and create jobs in the republic.
What are the benefits of the FEZ?
The FEZ will offer a number of benefits to businesses, including:
- A 10-year corporate income tax holiday
- A 5-year property tax holiday
- A 3-year land tax holiday
- Customs exemptions on the import of goods into the FEZ
- Simplified administrative procedures
The DPR government hopes that these benefits will make the FEZ an attractive destination for investment. The government has also pledged to provide infrastructure support to businesses operating in the FEZ.
What are the goals of the FEZ?
The DPR government has stated that the goals of the FEZ are to:
- Attract investment
- Create jobs
- Develop the economy of the DPR
The government hopes that the FEZ will help to make the DPR a more attractive destination for businesses and investors. The government also believes that the FEZ will help to create jobs and boost the economy of the republic.
