Russian Ministry of Agriculture decided to bring back zero tax rate on breeding cattle import
The Ministry of Agriculture has reached a decision to send to the Ministry of Finance a proposal to bring back the zero tax rate while importing breeding cattle for the period of State Agricultural Development Program implementation – 2013-2020. The decision was made at a meeting held by Dmitry Yuryev, Deputy Minister of Agriculture.
According to Federal Customs Service around 80 thousand heads of breeding cattle were imported only in 2012, the amount of VAT paid reached 870 mln rubles. According to National Beef Producers Union estimate, total VAT payment while breeding cattle imports will reach 4.2 bln rubles until 2020. All the meeting participants agreed that the proposed measure is reasonable and remission of VAT is sure to increase high-producing cows’ population and add to marketability of the local sector.
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