Japan Is Not Happy With Russia’s Economic Actions On Disputed Islands

The invasion of Russia in Ukraine hasn’t died down yet, and there is already another round of tensions are sparking between Moscow and Tokyo. Conflict over the Kuril Islands off Hokkaido’s coast is one of the oldest territorial disputes globally parallels the Ukraine Crisis.

Russia announces tax free law in disputed islands

Previously, Tokyo and Moscow discussed joint economic activities in the disputed islands that are northern to Japan and are actually referred to as Northern Territories, whereas they were referred to as Southern Kurils in Russia. This plan was discussed keeping in mind that neither of the countries’ status came at risk.

Russia Announces Free Tariff on Disputed Islands

However, Russia went ahead and passed a bill that mentions the disputed islands as a tax-free zone to which Japan has expressed extreme disagreement.

It violates Japan’s position regarding the four islands and the goal of the combined economic activities the two countries are contemplating.



In September, Vladimir Putin, the Russian President, suggested that Russia wanted to attract foreign investment to the islands by exempting certain taxes like corporation and property taxes.

 

Source: Toisthe

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