Russian government extended VAT-free regime on fish imports for breeding purposes

Russia’s Federation Council approved the budget-forming law, which, among other things, extends until January 1, 2025 the exemption from the VAT on the import and sale of breeding livestock and fish products in the Russian Federation.

In accordance with the current legislation, import into Russia and sale on its territory of breeding cattle, breeding pigs, sheep, goats, horses, poultry, eggs, as well as seeds and embryos obtained from them, breeding fish and juveniles obtained from it until January 1, 2023 are exempt from the value added tax (VAT).

The law extends this benefit for another two years. It will enter into force on the day of its official publication, with the exception of other norms for which a different deadline is set.