You're reading: Law on creating free economic zone in Crimea should go into effect Jan. 1, 2015

MOSCOW - The law on creating a free economic zone in Crimea should go into effect on Jan. 1, 2015, Crimean Affairs Minister Oleg Savelyev said at a briefing held at the Russian White House following the bill's consideration.

He said the government had passed the bill and it would be submitted to the State Duma soon.

“It should go into effect on Jan. 1, 2015, since a number of features in the transition period will have ended by this time,” he said. For that reason, it is necessary to pass the law, particularly the portion relating to taxes, by Dec. 1, Savelyev said.