Car Part Import Duties to Rise 3-10%
19 September 2018 (09:43)
UrBC, Moscow, September 19, 2018. Russia will no longer apply preferential-term import duties on car parts for in-plant assembly; other EEC member states, however, continue with the policy, Prime Refers to the Eurasian Economic Committee as stating.
The EEC decided to bring the import duties on car parts in full compliance with Russia’s obligations within the WTO. Prior to this decision, the preferential-term duties were set at zero; they are now expected to rise 3% to 10%.
The Russian Government intends to offer subsidies to car makers that have in-plant assembly contracts to offset the manufacturers’ expenses occasioned by rising import costs.
The subsidies in question might amount to RUR 600m by the end of the year, an employee at a car manufacturing company told Vedomosti.
The EEC decided to bring the import duties on car parts in full compliance with Russia’s obligations within the WTO. Prior to this decision, the preferential-term duties were set at zero; they are now expected to rise 3% to 10%.
The Russian Government intends to offer subsidies to car makers that have in-plant assembly contracts to offset the manufacturers’ expenses occasioned by rising import costs.
The subsidies in question might amount to RUR 600m by the end of the year, an employee at a car manufacturing company told Vedomosti.
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