Putin canceled VAT for ship repair enterprises – Kommersant
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President Vladimir Putin signed a law introducing a zero VAT rate for Russian ship repair companies that invest in their own development. Document published on the portal of legal information.
In order to receive benefits, the enterprise must conclude an investment agreement with the Ministry of Industry and Trade and the Ministry of Finance for seven years by the end of 2024. The document should prescribe obligations for the development and modernization of its own production facilities.
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. In case of termination of the contract, VAT for previous periods will be charged. The government also promised to double subsidies for civil shipbuilding.
More about the law – in the material “Kommersant” “Ship repair will save on taxes”.
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