The tourism cluster Vysota 5642, which will unite 5 tourism zones in the North Caucasus, will have tax exemptions, similar to the ones at Skolkovo, Yuga.ru reports.
Arkady Dvorkovich, Russian president’s assistant, said that the cluster will be regulated by a separate bill on tourism cluster “The resorts of the North Caucasus”, which is expected to be passed by the end of this year.
All taxes for companies involved in the project will lifted for 10 years, except VAT. They will also have a simplified procedure of changing land categories, Vedomosti reports.
Dvorkovich said that the Finances Ministry will improve the tax exemption program. The tax initiative is similar to the situation in Skolkovo, where insurance fees were lowered from 34% to 14%.
Another initiative of the bill is construction of a 3-meter fence around the land. The initiative was not approved, law-enforcers were requested to develop better security measures.
Vysota 5642 (the height of Elbrus in meters) is part of the six tourism zones: in Karachay-Cherkessia, Kabardino-Balkaria, North Ossetia, Dagestan, Krasnodar Territory and Adygeya. The project has a budget of 451.4 billion rubles, 391.4 billion of them (86.7%) belong to the company “The Resorts of the North Caucasus”. The company was established by the government for the project. It plans to invite investments.
