Economic development ministry: local administrations should initiate tourist free economic zones

01/20/16 11:34

Economic development ministry: local administrations should initiate tourist free economic zones

These zones may host both existing and start up tourist companies, said the head of the tourism and small business department of the Ministry of Economic Development, Natalya Gavrilova, on Radio 1
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Tiraspol, 20 January. /Novosti Pridnestrovya/. The Ministry of Economic Development believes that it is heads of local administrations that should initiate the development of tourist's free economic zones (FEZ). The main condition is that 80% of their income must account for the provision of tourist services.

The residents working in such tourist and recreation areas will benefit from a special tax regime. They will be exempt from three taxes: income tax, land tax, housing and improvement tax.

«Heads of state administrations must initiate the establishment of tourist and recreation areas in their regions. They must determine the territory of these areas. This may refer to the territory of a single object, as well as more extended areas. But they must be strictly defined. The organisations which already operate in this area must get registered as the residents of this FEZ," clarified Natalya Gavrilova.

Tourism accounts for only 0.02% of Pridnestrovie's GDP. The employment in this sector is estimated at 0.35% of the total number of employed persons.

 

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