Government to double subsidies for civil shipbuilding

The refusal of foreign partners from planned deliveries has put some industries in a difficult position, including shipbuilding enterprises, said Prime Minister Mikhail Mishustin. Because of this, the government will double subsidies for civil shipbuilding in 2023, to 14 billion rubles.

During a meeting with the Deputy Prime Ministers, Mr. Mishustin said that this amount would be used for the development, serial production and modernization of the production of ship equipment. According to him, recipients of subsidies will be able to compensate up to 80% of the costs, and the same funding is provided for next year.

“Due to the refusal of Western partners from the planned deliveries, some industries, let’s say, have found themselves in a rather difficult situation, including shipbuilding enterprises and our shipyards. This sector occupies a key position in our economy,” the prime minister said (quoted by RIA Novosti).

In February the government approved project of the Ministry of Finance on zeroing VAT for shipyards. The condition for zeroing the tax will be the investment by enterprises of at least 20% of the proceeds into their own development within seven years. An enterprise applying for VAT zeroing is obliged to conclude an investment agreement with the Ministry of Industry and Trade and the Ministry of Finance for the development of its capacities for a period of seven years. In case of termination of the contract, VAT for previous periods will be charged.

Details – in the material “Kommersant” “Ship repair will save on taxes”.

Laura Keffer