The Bill (Reg. No.3382) defines legal principles of foundation, functioning and liquidation of a special (free) economic zone "Akhilia" at the territory of the Zmiyiniy island (Kiliysky district, Odesa region). The Bill includes regulations concerning peculiarities of its functioning, terms of State support of the investors, etc.
The Bill introduces relevant amendments to the Laws "On Value Added Tax", "On Single Customs Tariff", "On General Principles of Foundation and Functioning of Special (Free) Economic Zones".
The Bill was elaborated in order to attract investments for the development of tourist-recreational sector, protection, research and preservation of monuments and objects of cultural heritage, development of infrastructure, promotion of economic activity at the island Zmiyiniy, creation of new workplaces.
However, the Committee members drew attention to the "inadequate level of elaboration of the Bill". Thus, the Bill fails to comply with regulations of Article 1 of the Law "On the Taxation System", pursuant to which, tax relieves are defined by special laws of Ukraine on taxation.