| Other Photos |
 |
|
 |
Duty-Free Olympics
The draft laws on the 2014 Olympics is highly business-friendly. Amendments to the Tax and Customs Codes will allow businesses chosen by the organizing committee to import goods into Russia duty-free and the noncommercial state corporation to construct Olympic facilities (Olimpstroi) will be able to determine its own credit needs. The authors of the bill do not think 186 billion rubles in government financing will be enough for it.
The two laws were prepared by the Ministry of Economic Development and Trade and introduced in the State Duma by members of the United Russia faction. Olimpstroi will control construction of facilities and the infrastructure for them and be responsible for their power supply. Former Transneft president Semyon Vainshtok will head the corporation, and it will have an 11-member supervisory board that will include the governor of Krasnodar Territory, the head of the Sochi city administration, the director of the Olympic organizing committee, the president of the Russian National Olympics Committee and six more members appointed by the government.
Tax benefits promised by Russian President Vladimir Putin will be made available to the organizing committee, the International Olympics Committee, organizations in which the IOC has at least a 50-percent stake and Olimpstroi. Those conditions will be recorded in articles 149 and 150 of the Tax Code. Customs benefits will be broader. The organizing committee for the games will provide a list of goods needed for the Olympics that will then be made exempt from duties.
www.kommersant.com
All the Article in Russian as of Sep. 17, 2007
|
|
|
Photo: Grigoriy Sobchenko
