22.12.08

“On Amending Article 172 of the Federal Law ‘On the Foundations of Tourism in the Russian Federation'” has passed its first reading. The bill would increase in the financial reserves required of tour operators from 10 million rubles to 100 million rubles depending on the annual earnings of the tour operator.

If annual revenues are less than 100 million rubles, the reserves of 30 million rubles are required. If earnings exceed 100 million, 100 million in reserves are required.

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Source: "эж-ЮРИСТ"