Zero VAT rate to be set for ship repair companies of Russia. The industry representatives welcome this step but say that is not sufficient for the revival of ship repair – a comprehensive approach is required.
What is proposed?
RF Government has developed amendments into the Tax Code which foresee a zero VAT rate for ship repair yards engaged in dock and yard repair of ships if they allocate at least 20% of revenues for the development throughout a 7-year period. Such an obligation is to be stipulated by the state agreement…
Source: en.portnews.ru
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