Russia to Raise the Import Duty on Ship

According to the basic guideline of Customs Tariff Policy from 2010 to 2012 announced by Russian government in June 11, 2009, to support the development of domestic shipbuilding industry, the Economic Development of Russia plans to raise the import duty on newly built ships on the basis of raising import duty on second-hand ships. At the same time, they will also lower the import duty on shipbuilding equipment and accessories.

At present, Russia levies 5 percent import duty on fishing boat and oil tanker, 20 percent import duty on speed boat and 10 percent import duty on warship and rescue ship.