MOSCOW, June 22 Russian President Vladimir Putin signed a law allowing, from July 1, 2024, to extend the free economic zone (FEZ) regime to certain territories in Belgorod, Bryansk and Kursk regions. The corresponding document is posted on the website of the official publication of legal acts.
The free economic zone on the territory of new Russian regions was created on June 24, 2023. 
< br />The new law extends the preferential regime of SEZs to certain territories of the constituent entities of the Russian Federation, determined by the government of the Russian Federation and adjacent to the territories of Ukraine and (or) the Donetsk and Lugansk people's republics, Zaporozhye and Kherson regions. Specific regions are not specified in the law, but Russian Prime Minister Mikhail Mishustin previously explained that we are talking about the Belgorod, Kursk and Bryansk regions.
There is a special regime for business activity in the free economic zone. It includes reduced tax rates and insurance premium rates, as well as the application of a free customs zone procedure.
Individual entrepreneurs and legal entities can obtain the status of a SEZ participant. To do this, they must be registered in these territories or have a branch there. In case of termination of the agreement on the conditions of activity in the FEZ due to violations, the participant will have to pay a fine in the amount stipulated by the agreement.
The Cabinet of Ministers will have to determine a list of land plots within the boundaries of which the SEZ regime is applied, as well as a list of activities to which this regime does not apply. The government will also establish requirements for carrying out business and other activities in the SEZ. And the authorities of the relevant regions will maintain registers of FEZ participants. Information about inclusion in the register and about exclusion from it will be transmitted to the Federal Customs Service and the Federal Tax Service.
In turn, the Ministry of Economic Development will annually evaluate the effectiveness of the SEZ, submit it to the government and post relevant reports on its website.