In Russia, the fee for catching fish and seafood has increased

Published Nov 25, 2022

Tridge summary

Russian Prime Minister Mikhail Mishustin announced changes to fish and seafood tax rates, increasing revenues for all budgets. The rates will only rise for exported and socially significant fish and seafood, while rates for socially significant ones will remain the same. Until 2027, companies that develop production and increase processing volumes will pay a flat fee of 15% for the entire catch. The minimum fee for the use of aquatic biological resources is 150 rubles/ton, except for algae. The article also outlines increased tax rates for various fish and crustaceans, with rates to be indexed by the deflator coefficient from 2025.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Revision of tax rates will significantly increase revenues to the budgets of all levels, Russian Prime Minister Mikhail Mishustin explained earlier. Moreover, the rates will be increased only in relation to those types of fish and seafood that are mainly exported, and in relation to socially significant ones - herring, vendace, crucian carp and others - will remain at the same level, he noted. Companies that invest in the development of production and increase the volume of fish and seafood processing at enterprises in Russia will be able to receive a deduction until the end of 2027 and pay only 15% of the fee for the entire catch if they are engaged in fishing in the coastal zone or process the catch on shore or at sea, as well as fishing on new vessels built at Russian shipyards. A similar right is granted to fishing artels (collective farms). The law establishes the minimum value of fees for the use of aquatic biological resources in the amount of 150 rubles/ton, with the ...

Source: Fishretail