Russia has during 2019 taken the first two most important steps to create normal market conditions for the development of civil aviation in Russia. Step one was to shut down the use of foreign-registered aircraft that were not customs cleared for commercial use on charter flights within Russia and other countries within the Eurasian Union. The removal of illegal charter flights from the market has removed the largest impediment to the development of a law compliant aircraft charter business within Russia. Step two comes into effect as of January 1, 2020 when Russia will no longer impose value added tax (VAT) on the import of civil aircraft into Russia for any purpose, including for commercial use on charter flights. The exemption from import VAT comes in the form of a new zero percent (0%) rate of VAT on the import of civil aircraft as of January 1, 2020.
Source: corporatejetinvestor.com
Latest Posts in "Russia"
- New Tax-Exempt Equipment List for Importation Effective August 16, 2025
- Bahrain and Russia Sign Customs Mutual Assistance Agreement
- Russia Implements Zero VAT Rate for Lightweight Drones
- US imposes additional tariffs on India for buying oil from Russia
- Court Ruling on 0% VAT for Freight Forwarding Services in International Cargo Transport
