Decreased resource fees to result into increasing catches of low margin species

December 3, 2007 16:31

Federation Council of the Russian Federation (Upper House) has approved amendments to article 25 of the Tax Code "On decreasing resource fees for exploitation of aquatic biological stocks". The amendments have established new rates of the resource fees for a number of aquatic species, according to RosInvest.

More specifically, the fees have been increased for a number of high margin species such as salmon, etc., while the fees for abundant and low margin species as herring, saury, squid, etc. as well as some crab species have been decrease. The fees for such poorly exploited species as polar cod Boreogadus saida, capelin, haddock and other species have been set at ca.RUB20.00 per one metric ton.

The amendments also introduce privileges for the Russian town-forming fishing co-ops engaged mostly in fishing operations. Now they will have to pay only 15% of the resource fees.

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