Government ready to submit resource fees bill to Lower House

The government of Russia approved amendments to the Tax Code on levies for exploitation of particular aquatic biological resources and decided to submit the draft to the State Duma, reports Megafishnet.com.

More specifically, the government approved the draft federal law "On Amendments to Chapter 251 of Part Two of the Tax Code of the Russian Federation" and submitted it to the State Duma.

According to the Government as quoted by Fishnet.ru, the draft provides for higher levies for the use of a number of commercial species. The levies for socially significant fish species will remain unchanged, Russia’s PM Mikhail Mishustin underlined.

At the same time, the draft provides for the use of a system of privileges: for users who work in the coastal fishing mode, onboard new Russian-built vessels and produce certain products onshore or at sea.