MOSCOW: Russian fishing firms are opposing an increase in the fee for the use of natural resources, which was proposed by the country’s government last month, sources told Undercurrent News.
The taxation change was proposed at a meeting in Moscow. “It is just the project, for now,” one executive told Undercurrent, pointing out it was too early to discuss the figures and amounts for the proposed rise in fees. Thus, the documents have not yet been officially introduced to the Russian parliament, though the discussion will continue.
All the fleets pay a fee for the use of resources, according the Russian tax code.
“It is the special fishery tax that is paid for the amount of quota the company intends to catch. The fee is different for each species. The federal government has the idea that these fees need to be updated — mostly upwards,” one executive told Undercurrent.
Russian fishing firms argue that they are “on the start of the huge investment race and such periods are not so suitable for the the taxes rising”. The proposed document needs to be developed and discussed again, one executive pointed out.
At present, the Russian government offers some privilege exemptions for those companies who process the catch in the country and for traditional collective farms who work in regional villages and have expenses for social needs.
Most Russian fishing firms are currently planning new investments in renewing their fleet or expanding their processing facilities, taking advantage of the investment quotas mechanism and state funding announced earlier this year.
