The Ukrainian parliament has passed a law on the tax and customs control in the free economic zone of Crimea and the specifics of carrying out operations in the region.
According to the document, the special law regime for economic operations of individuals and companies, including the special procedure for applying the requirements of the regulatory, tax and customs laws of Ukraine and the special regime of internal and external migration of individuals, is in effect. A free customs zone is created within the free economic zone of Crimea.
The free economic zone is created without agreeing it with the relevant local self-government or executive power agencies. National taxes and duties are not collected on the territory of the free economic zone.
According to the law, Ukraine guarantees the protection of property and non-property rights of individuals and companies on the territory of the free economic zone of Crimea according to Ukrainian law, including foreign investment.
The move comes after Crimean peninsula declared independence from Ukraine and was annexed by Russia.