Cancelled duties on import to Russia on a Charter yacht under a foreign flag

February 1, 20192min read

The Chairman of the government of the Russian Federation Dmitry Medvedev signed a decree on the abolition of customs duties and taxes on imports of motor and sailing yachts, rented abroad by citizens of Russia, Belarus and Kazakhstan. The document will come into force on 1 March. The text is available in the RBC.

According to the decree, it will be possible to import duty-free to Russia sailing and motor yachts, leased time-Charter (with crew) or a bareboat Charter (without a crew) and is intended for non-commercial use. Under the decree of the fall sailing boats with motor and without motor, and motor yachts longer than 7.5 meters, equipped with decks and cabins.

The measure is intended to contribute to the development of sailing and yacht tourism in Russia.

The Ministry of economic development in 2015, announced plans to release temporarily the ammunition in Russia for leisure and sport yachts from taxes and customs duties. Previously, the amount of customs fees on import of foreign flagged yachts were calculated according to the formula: “rate of import customs duty + VAT+ customs fees for customs operations”.

Note that foreign yacht tourism in modern Russia is still virtually absent due to serious administrative and customs barriers. Until 2012 the movement on the Russian inland waterways yachts under foreign flags was prohibited at the legislative level. After the abolition of the law, except Russia existed except in North Korea, for the first time in the history of the yacht under a foreign — specifically, the Swedish — flag reached Moscow. Assistance in the organization of the historic voyage the boat owner had the founder itBoat Nikita Gorchakov.