Zelensky signs law abolishing free economic zone with Crimea

Ukrainian President Volodymyr Zelensky signed a law abolishing the free economic zone in Crimea, the website of the Verkhovna Rada reported.

Kiev introduced a preferential tax regime on the peninsula shortly after Crimea became part of Russia. It was assumed that citizens of Ukraine living there should not pay national and pension fees.

Since then, rallies have been held in the country demanding the repeal of the law.

In the explanatory note to the bill on the abolition of the FEZ, it was emphasized that, according to Ukrainian law, citizens of the country living in Crimea are considered non-residents. As noted by the deputy of the Rada Rustem Umerov, this led to the fact that in a number of cases, for example, when selling real estate or inheriting property, a person had to pay an increased tax – like a foreigner.

Since January 1, 2015, a free economic zone has been established in Crimea and Sevastopol, established by the decree of Russian President Vladimir Putin.