Consignments up to €200 and duty free may be exempt from exchange rate duties – Kommersant

The Russian government plans to introduce exceptions to flexible export duties linked to the ruble exchange rate. Goods for personal use, consignments of goods under €200 and some goods for duty free stores may be exempt from them. The decision was approved by the subcommittee on customs, tariff and non-tariff regulation, protective measures in foreign trade of the government commission for economic development.

I got acquainted with the documents of the subcommittee RBC. The protocol was signed by First Deputy Prime Minister Andrei Belousov. The Ministry of Industry and Trade confirmed that such proposals are being discussed. As follows from the documents of the subcommittee, the authorities can also extend export quotas for nitrogen and complex fertilizers until the end of May 2024.

Consignments under €200 may be exempt from flexible duties if they go from one sender to one recipient using one transport document. The exception will affect commercial cargo of small value, spare parts, samples for further sales, promotional materials and other goods. The authorities believe that this will allow “to maintain the course and measures aimed at supporting non-resource exports, primarily small businesses.”

Some goods from the assortment of duty free stores may be exempt from duties to maintain the duty-free regime. In particular, the measure will be extended to alcohol and textiles.

Flexible export duties on a wide range of goods linked to the ruble exchange rate act in the Russian Federation from October 1. They concern, among other things, alcohol, tobacco, fish and dairy products, sugar, confectionery, cocoa, mining products, ferrous and non-ferrous metallurgy, precious metals, coal and fertilizers. The duty is 4% at an exchange rate of more than 80 and less than 85 rubles per dollar, 4.5% at an exchange rate of 85–90 rubles per dollar, 5.5% at an exchange rate of more than 90 to less than 95 rubles per dollar, and 7% at course over 95 rubles inclusive.

How much were the collections of new export duties in October – in the Kommersant material “Linking to the course turned out to be inexpensive”.

Leonid Uvarchev