In accordance with the Decree No. 67/2014/ND-CP dated July 07, 2014 of the Government on a number of fisheries development policies, from August 25, owners of fishing ships or fishery logistics ships conducting fisheries activities with efficiency, having financial capability and specific production and business plans can get loan not exceeding 70% of the logistics service value, for fishing logistics ships; not exceeding 70% of expenses for a fishing voyage, for fishing ships.
Also form August 25, the state budget shall provide insurance premium supports for offshore fishing ships and offshore fishery logistics ships, which are members of fishing teams or cooperatives and have a total main engine capacity of 90 HP or over; annual support of 100% of ship crew insurance premiums for every ship crew member working on board;
Annual support for insurance premiums of ship hulls, equipment and fishing gears on board each ship (against all risks) at the levels as 70% of the insurance premium for ships with a total main engine capacity of between 90 HP and under 400 HP each and 90% of the insurance premium for ships with a total main engine capacity of 400 HP or over each.
For building new offshore fishing logistics ships, including engines, maritime equipment, marine product preservation equipment and machinery; product preservation; loading and unloading equipment; in case of building steel ships, ship owners may borrow loans from commercial banks not exceeding 95% of the total investment in the shipbuilding, with the interest rate of 7%/year, of which ship owners shall pay 1%/year and the state budget shall subsidize 6%/ year.
In case of building wooden ships, ship owners may borrow loans from commercial banks not exceeding 70% of the total investment in the shipbuilding, with the interest rate of 7%/year, of which ship owners shall pay 3%/year and the state budget shall subsidize 4%/year. The lending term is 11 years. In the first year ship owners will be exempted from interest payment and not be required to pay the principal yet. The state budget shall pay to commercial banks the loan interests for ship owners eligible for exemption.
For tax incentives, the Government shall exempt from personal income tax for households and individuals directly fishing marine resources; exempt from enterprise income tax for incomes from marine resource fishing, incomes from logistics services provided directly for offshore fishing; incomes from building and upgrading of fishing ships with a total main engine capacity of 400 HP or over each for marine resource fishing; non-collection of registration fee for fishing vessels; exempt from license tax for organizations, households or individuals engaged in aquaculture, fishing or fishery logistics services and exempt from aquaculture land or water surface rental.
This Decree takes effect on August 25, 2014.
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