According to recent reports, the Russian government is working to finalize draft legislation for the creation of two new offshore financial centers to be located on Oktyabrsky Island in Kaliningrad and Russky Island near Vladivostok. For businesses established in the zones, a new special tax regime would apply with a basic 6% tax rate, while providing an exemption from the standard corporate income tax, corporate property tax, and value added tax (VAT), except for VAT on goods imported into R…