"The tax-free system project is a new one that has just kicked off. Sochi is among the first cities participating in the experiment. At present, it is not working on the scale we want but four brands have already joined the system," he said.
According to Nikonchuk, the introduction of the tax-free system will attract more foreign visitors to Sochi.
"We hope the experiment will succeed and more businesses will join the project next year," he added.
On February 12, Prime Minister Dmitry Medvedev signed a resolution on launching a pilot project on introducing the tax-free system in Moscow, St. Petersburg, the Moscow Region and the Krasnodar Territory.