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Taxes of the Russian Federation: what awaits owners of watercraft in 2018

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Next year several Russian regions will increase tax rates for water transport at once. In some cases tax rates will be 10 times higher than base rates.

Shipowners of at least four constituent entities of the Russian Federation should get ready for increased costs: Rostov, Kostroma, Tula regions and Kamchatka Territory.

It is already known that on January 1, 2018 floating craft tax will be doubled in Rostov region, and tariffs for yachts, motorboats and jet skis will be maximal, i.e. 10 times more than base.

Deputies of the Kostroma region have also passed a bill, according to which «rates will significantly increase.». The governor of the Tula region has only offered to increase the tariffs for all forms of water transport by 10%, stressing that they have not been raised since 2010. And the Government of the Kamchatka region, which initially denied the information about the increase in tax, nevertheless is going to increase the rates on average twice.

In addition, the Ministry of Finance wants to prohibit the reduction of tariffs by establishing a minimum rate for floating craft. Thus, in the 6 regions of the Russian Federation where there are now reduced rates, the tariffs may be raised to the basic ones.

We would remind that now under the law the owners of motor boats, yachts, motor boats and jet skis are obliged to pay transport tax depending on the type of a vessel and its engine capacity. For this purpose, the tax code stipulates base rates that regions can change up to 10 times up or down at will.

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