The Ministry of Industry and Trade will receive new powers - now for shipbuilding

26.06.2023       

President Vladimir Putin signed a law introducing a zero VAT rate for Russian ship repair companies that invest in their own development. In order to receive benefits, the enterprise must conclude an investment agreement with the Ministry of Industry and Trade and the Ministry of Finance for seven years by the end of 2024. The document should include obligations to develop and modernize its own production facilities.
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