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Russia approves list of fish products for tax deduction
(RUSSIAN FEDERATION, 7/20/2023)
The Russian government has approved a list of fish products for tax deductions. The corresponding order was signed by Prime Minister Mikhail Mishustin on July 6, according to the Telegram channel of the All-Russian Association of Fisheries Enterprises, Entrepreneurs and Exporters (VARPE). The document entered into force on July 7.
Photo: В. БЫЧКОВ / «ЦЕНТР АГРОАНАЛИТИКИ»
A tax deduction in the amount of 85% of the fee for the use of aquatic biological resources will apply to products of deep processing from catches caught in the Far East and North.
In the North, producers of fillets, meat (including minced meat) from cod and haddock will receive tax preferences, and in the Far East - producers of fillets, meat (including minced meat), fine and coarse flour and granules unsuitable for food, from pollock, cod, herring and salmon (pink salmon, chum, coho, chinook, sockeye and sim).
Recall that initially the draft list did not include salmon products. An initiative to supplement it with products of deep processing from Pacific salmon was made by VARPE in order to curb the rise in prices for products demanded by Russian consumers.
“Now the smooth exchange of information between the Federal Agency for Fishery, Rosselkhoznadzor and the Federal Tax Service is very important. The procedure for interdepartmental exchange has been approved, as well as the forms of necessary documents. The document flow will amount to tens of thousands of documents considered in a very short time - until September 1,” commented the head of the association German Zverev on the administration of the tax benefit.
Amendments to the Tax Code providing for an increase in fees for the use of aquatic biological resources were adopted last year. Thanks to this, the natural rent in the fishing industry will increase to 15 billion rubles (USD 163.8 M). in year. In addition to enterprises that produce products from the list approved on July 6, the tax exemption applies to “coastal workers”, those who fish on new vessels, as well as to town and village-forming enterprises, collective farms and artels (until the end of 2027).
Source: specagro.ru (Traslated from the original in Russian)
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