Exchange rate relaxations – Kommersant FM

The authorities intend to soften exchange rate duties: some export categories of goods will be exempted from them. The easing will apply to products cheaper than €200, products for personal use and some supplies to duty free stores. Such a measure is being prepared by the government, writes RBC. According to the publication’s source, it will affect small commercial cargo, such as spare parts, sales samples, promotional materials and correspondence.

This will help small exporters, Vice-President of the Chamber of Commerce and Industry Elena Dybova is sure: “There were many requests from businesses. And we talked about the need for such relaxations, since we are now trying to promote our entrepreneurs as much as possible in terms of going abroad, presenting products, and so on.

The issues of exporting samples, some components that we can actually offer and show at exhibitions immediately became problematic. Businesses have repeatedly asked for some kind of minimum corridor. Of course, €200 is a very small amount, I would like more. But at least the first step has been taken.”

The authorities introduced flexible duties on October 1. They apply if the national currency exchange rate exceeds 80 rubles. per dollar, and the weaker the ruble, the higher the rate – up to 7%. However, this measure added problems not only to exporters, but also to carriers, noted Georgiy Vlastopulo, CEO of Optimalog:

“This year, additional export duties were introduced, which affected a huge number of product items, including paper, envelopes, etc., depending on the ruble exchange rate. This caused a very wide resonance in the logistics community, because when registering a parcel or envelope, it was necessary to declare this paper and pay 7% of export duties on it. Apparently, the state finally heard us and responded with such measures.”

By removing goods cheaper than €200 from duties, the authorities expect to “maintain the course and measures aimed at supporting non-resource exports, primarily small businesses.” This is only the first step, but one cannot count on more serious relaxations, says Vice-President of the Moscow Chamber of Commerce and Industry Suren Vardanyan:

“Almost everyone is actively taken to exhibitions—exhibition activities have picked up to a certain extent. They bring everything from decorative elements to purely technical items and food samples.

I wouldn’t highlight anything here, but if we’re talking about exhibitions, then any opportunity to bring an exhibit is already a positive effect.

This is not a solution to problems, but a step forward. As for the most daring actions, perhaps they will be by the middle of next year.”

In October, export duties brought an additional 30 billion rubles to the budget. – this is comparable to the results of the Federal Customs Service for all payments in one day. These fees do not seriously affect the budget, but business feels them, said acting head of the service Ruslan Davydov. And specialized associations, such as the Russian Union of Industrialists and Entrepreneurs, proposed waiving duties on the export of non-commodity goods starting next year.

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Ivan Koryakin