“Marine Industry of Russia”
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May 23-25, 2012
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The Ministry of Transportof the Russian Federation FGU «Rostransmodernizatsiya»
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Proposed law on support of Russian shipbuilding approved by the Government Commission – Ministry of Transport
January 24, 2011
Draft law “On support measures for shipbuilding and navigation in Russia” has been approved by the Government Commission on Legislative Drafting Activities, said Deputy Transport Minister Viktor Olersky to journalists in Saint-Petersburg.
“We disagree with the Ministry of Finances and the Ministry of Economic Development over one matter. It is about the rates of contributions to insurance funds to be made by shipbuilding enterprise employees”, – he said and added that the final decision on this issue will be made by the Chairman of the Government.
Mr Olersky says that it is important to find an optimal rate of insurance contributions between the minimum (zero) rate and the maximum rate of 34%. “I think that 14%-20% will suit everyone”, – he said.
“We have managed to get a zero rate of insurance contributions approved for seamen. But the sea business is national, examples can be found all over the world. That is why we have persuaded the Ministry of Finance to compensate for insurance contributions from the federal budget”, – the deputy minister reported.
As it was mentioned before, one of the core provisions of the new law on Russian shipbuilding support is organization of shipbuilding clusters that will be exempted from paying the majority of taxes on their products as well as from paying taxes and import duties on imported components. Shipyards that come under the new law will pay lower customs duties (10% now) on the types of imported equipment which have no equivalents in Russian, zero VAT on new vessels (18% now) and will enjoy other benefits. The law is expected to cover the vessels that have been built at Russian shipbuilding facilities to sail under the Russian flag not earlier than 1 January 2010.
The new law also stipulates that the ship owners, whose vessels sail under the Russian flag, will carry lower ship maintenance expenses due to reduced taxation.
Interfax
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