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06 December 2011

Russia enters World Trade Organization (WTO)

What does it mean for the fishing industry?

  1. First of all this will impact the export subsidies which are restricted by WTO guidelines.
  2.     Second, current export tax rates will be reviewed. Current are at 10% and 18%, starting from 01 July 2012 salmon export taxes shall be gradually reduced to 3% within of 5 years.
  3.     The guidelines for tax authorities will be made very clear on how to evaluate the export price. Current practice of “educated guess” of market price will be replaced with practices.

It is expected that the proposals on concrete measures will be published within of 3 weeks from now.

Posted on 6:18 AM | with 0 comments
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