According to informed sources of the publishing house \"Maritime news of Russia\"

June 29, 2011

According to informed sources of the publishing house “Maritime news of Russia” the attitude of the RF State Duma, the lower house of the Russian parliament, to a draft law on support for shipbuilding and shipping is very serious and positive. In the first reading the law will most likely be considered by the lower house on July 5-6.
The second reading and adoption of the law will be expected in the autumn.

Let us recall that the draft law reached the RF State Duma on May 31. And an inter-committee working group was summoned on June 3 to work on it, while working groups are formed not for each draft law.
Relevant committees (for defense and economic policy) of the State Duma already made their reports on the bill. The mentioned informed source brought into focus that the issue has been studied by experts and the whole set of documents and reports has been almost fully prepared.

The document was developed by the Ministry of Transport and Ministry of Industry and Trade with the participation of JSC “United Shipbuilding Corporation” (OSK) and representatives of the largest Russian shipping companies.
The bill particularly provides for lower operating costs for the ship owners whose vessels will sail under the Russian flag, which will be achieved by means of tax deduction.

With the adoption of the law the payback period of the vessel will decrease by 40% – from the current 20 years to 12 years. Russian vessels competitive advantages will be increased.
The bill involves the creation of the shipbuilding clusters, the release of their products from most of the taxes, and imported components – from taxes and import duties.
Shipyards falling under the new law, will get exemptions on customs duties on import of foreign equipment, which has no analogues in Russia (currently the duty is 10%), VAT zero rate on new vessels (18%) and a number of other benefits.

“Russia has the longest sea borders in the world – almost 39 thousand kilometers. 15% of the territory is directly related to shipping, and more than 60% of foreign trade is maintained
by sea transport. The Russian Federation simply has to pay greater attention to shipbuilding as one of the main industries, which accumulates the defense,
transport and trade interests of our country and at the same time is the driving force of the industry in general “, emphasized Roman Trotsenko, the head of OSK, in his article in the pilot issue of the updated magazine “Maritime Fleet “.

According to informed sources of the publishing house \"Maritime news of Russia\"

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