Government Committee finalizing resource fees draft for Russian fisheries

December 27, 2018 14:59

As per mid-December the government commission for development of the fishery complex chaired by Vice-PM Alexey Gordeev has reviewed the draft law stipulating amendments to the Tax Code as regards fees for capture of aquatic biological resources, according to the Federal Agency for Fisheries.

The draft law developed by the Ministry of Agriculture has departed from the fixed fee approach setting the levies at 4.8% of the average price of the fish. Levies for particular socially important aquatic species such as pink salmon and Okhotsk herring are supposed to be even lower.

More specifically, the draft law features a differentiated approach to the collection of fees for the use of aquatic biological resources. It provides for soft fees and exemptions for those companies which process catches onboard into value-added products, which are engaged in coastal fisheries and which use new vessels for fishing operations. Privileges will be also granted to city and village forming companies, fishing artels and fishing co-ops.

The new rates of the fees with regard to the above mentioned privileges will encourage a growth of value-added production inside Russia.

The new law should be enforced as of 1 January 2020 with a transition period until 2022.

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