The Russian government plans to introduce exceptions to flexible export duties linked to the ruble exchange rate. Goods for personal use, shipments of goods less than €200 and some tax-free products may be exempt from them.
The decision was approved by the subcommittee on customs, tariff and non-tariff regulation and protective measures in foreign trade of the government economic development commission. RBC reviewed the documents.
Shipments of less than €200 may be exempt from flexible duties if they go from a sender to a recipient using a single transport document. The exception is low-value commercial cargo, spare parts, samples for subsequent sales, promotional materials and other goods. Officials believe this will help “stay the course and take measures to support non-natural resource exports, primarily to small businesses.”
Some duty-free goods may be duty-free to maintain the duty-free trade regime. In particular, the measure may be extended to alcohol and textiles.
Flexible export duties come into force from October 1, 2023: from 4% at a dollar exchange rate of 80 to 85 rubles, to 7% at an exchange rate above 95 rubles, to 0% at an exchange rate of up to 80 rubles. A separate duty on fertilizers (up to 10 percent) is levied to protect the domestic market.
Author:
Karina Pardaeva
Source: RB
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