To provide tax incentives for civil aviation development, the draft law proposes exempting from VAT the import of civil aircraft to Russia and other territories under its jurisdiction.
The draft federal law On Amendments to the Tax Code of the Russian Federation
(hereinafter - the draft law) has been submitted by the Ministry of Finance.
The draft law proposes exempting from the value-added tax (hereinafter - VAT) the importation into Russia of vessels subject to registration in the Russian Open Register of Ships.
It is proposed to qualify shipowner revenues from the operation or sale of vessels registered in the Russian Open Register of Ships as deductible from the corporate tax base, in the same way as those of shipowners whose vessels are registered in the Russian International Register of Ships.
To provide tax incentives for civil aviation development, the draft law proposes exempting from the VAT the importation into Russia and other territories under its jurisdiction of civil aircraft subject to state registration in the State Register of Civil Aircraft. It also provides for VAT exemption for the importation of aircraft engines, spare parts and components used in the construction, repair or upgrade of civil aircraft in the territory of Russia.