Regional shipbuilding clusters to enjoy preferential tax treatment – ASRF

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A preferential tax regime is potentially available to shipbuilding clusters, provided they are included in the Register of the Russian Ministry of Industry and Trade. Currently, such clusters have been created in the Leningrad, Nizhny Novgorod, Arkhangelsk, Kaliningrad regions, the Association of Fishing Fleet Owners (ASRF) said on its Telegram messenger.

The law establishing a preferential tax regime for entities that are members of industrial clusters was signed by the Russian President on March 18, 2023. Such organizations will get access to tax monitoring without fulfilling the conditions for such monitoring stipulated in the Tax Code. This procedure replaces common inspections with online interaction and allows taxpayers to quickly coordinate with the tax authority the position on taxation of planned and completed transactions.

In addition, entities that are simultaneously participants in investment contracts to which Russia is a party, are granted the right to apply a single reduced rate of insurance premiums in the amount of 7.6%.

The Federal law enters into force on the day of its official publication and extends its effect to legal relations that arose as from January 1, 2023.

The ASRF says that the regional vector of shipbuilding development is provided for by the Maritime Doctrine. Among the priorities for the development of marine fisheries, the doctrine indicates the construction of new fishing vessels mainly at Russian shipyards, and the task is to create conditions for the development of shipbuilding in the North-Western region of Russia.