Russian Federation: State subsidies to Russian leasing organisations related to the reimbursement of losses in income for the transfer of wheeled vehicles under leasing agreement (September 2015)

ANNOUNCEMENT 24 Sep 2015

The Ministry of Industry and Trade of the Russian Federation announced state subsidies to 34 Russian leasing organisations.

NUMBER OF INTERVENTIONS

1 harmful
0 neutral
0 liberalising

SOURCE

Ministry of Industry and Trade (2015). ПРИКАЗ МИНИСТЕРСТВА ПРОМЫШЛЕННОСТИ И ТОРГОВЛИ РОССИЙСКОЙ ФЕДЕРАЦИИ ОТ 24 СЕНТЯБРЯ 2015 Г. № 2904 "О ПРЕДОСТАВЛЕНИИ СУБСИДИЙ ИЗ ФЕДЕРАЛЬНОГО БЮДЖЕТА НА ВОЗМЕЩЕНИЕ ПОТЕРЬ В ДОХОДАХ РОССИЙСКИХ ЛИЗИНГОВЫХ ОРГАНИЗАЦИЙ ПРИ ПРЕДОСТАВЛЕНИИ ЛИЗИНГОПОЛУЧАТЕЛЮ СКИДКИ ПО УПЛАТЕ АВАНСОВОГО ПЛАТЕЖА ПО ДОГОВОРАМ ЛИЗИНГА КОЛЕСНЫХТРАНСПОРТНЫХ СРЕДСТВ, ЗАКЛЮЧЕННЫМ В 2015 ГОДУ, В РАМКАХ ПОДПРОГРАММЫ "АВТОМОБИЛЬНАЯ ПРОМЫШЛЕННОСТЬ" ГОСУДАРСТВЕННОЙ ПРОГРАММЫ РОССИЙСКОЙ ФЕДЕРАЦИИ "РАЗВИТИЕ ПРОМЫШЛЕННОСТИ И ПОВЫШЕНИЕ ЕЕ КОНКУРЕНТОСПОСОБНОСТИ". (Decree of the Ministry of Industry and Trade of the Russian Federation of 24 September, 2015 No. 2904 "On granting subsidies from the federal budget for reimbursement of income losses of Russian leasing organisations when providing the lessee with a discount for the advance payment under the leasing agreements for wheeled vehicles concluded in 2015, under the framework of the subprogramme “Automotive industry” of the state program of the Russian Federation "Development of industry and increasing its competitiveness".) Available at http://minpromtorg.gov.ru/docs/#!34788

Inception date: 24 Sep 2015 | Removal date: open ended

Financial grant

According to the Ministerial Decree No. 2904 dated 24th of September, 2015, state subsidies were granted to 34 Russian leasing organisations in the total amount of 2.10 billion RUB (31.6 million USD).

The subsidies were granted for the reimbursement of losses in income of Russian leasing organisations for the transfer of wheeled vehicles under a leasing agreement. Under the leasing agreement, the lessee receives a discount from the Russian leasing organisation for the advance payment for a Russian-manufactured wheeled vehicle. The government grants subsidies to leasing organisations to compensate loses on income from such discount provisions.

The subsidies were granted under the framework depicted by the Government Resolution No. 451 dated 8th of May, 2015.

AFFECTED SECTORS

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AFFECTED PRODUCTS