President Vladimir Putin said Russia is setting up a tax-free zone to attract investment to four islands at the centre of a decades-long territorial dispute with Japan. “We are creating an unprecedented set of benefits and incentives on the Kuril Islands, where we will completely exempt businesses from paying any taxes on profits, property, land and transport taxes, and for 10 years,” Putin said on Friday at the annual Eastern Economic Forum in the Pacific port city of Vladivostok.…