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Home / Issue Archive / 2008 / January #1 / Government Exempt from Duties and Taxes of Imported Offshore Platforms for Geological Surveys
№ 1 (January 2008)
Government Exempt from Duties and Taxes of Imported Offshore Platforms for Geological Surveys
On exemption from customs duties and taxes on floating or underwater drilling or operating platforms imported into the territory of the Russian Federation on a temporary basis
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Based on Article 212 of the Customs Code of the Russian Federation, the Russian Government rules:
- To provide full conditional exemption from tax duties and taxes on floating or underwater drilling or operating platforms (Russia’s Foreign Economic Activity Commodity Classification Code 8905 20 000 0) imported on a temporary basis by Russian entities to perform geological exploration.
- The maximum term for the temporary import thereof to the territory of the Russian Federation is 5 calendar months, provided that such goods remain the property of foreign entities and are transferred to Russian entities under lease or finance lease agreement.
- The decree comes into effect one month after its official publication and is effective for 2 years after the effective date.
Source: PR office of the Government
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