Russia will increase the duties on car components

Russia has fulfilled its obligations to the WTO following several months delay: customs duties on car components will go up by 3-10%. The decision of the Council of the Eurasian Economic Commission will come into force ten days after publication, however, the document is not yet available.

The EEC Council has taken the decision to bring customs duties on the imports of car components to the Russian Federation, due to the country’s obligations to the WTO. Now, the preferential regime has been abolished for the industrial assembly regime and the usual rates of import duties will be applied. The duties have risen by 3-10% in average, as stated by the EEC.

The import duties on car components are supposed to have risen as of the beginning of July 2018, according to the conditions of Russia’s admission to the WTO. However, the decision has not been taken in time. According to sources, some of the Customs Union countries tried to cling on to the preferential regime.

The Ministry of Industry and Commerce is under the obligation to compensate for the losses of the companies with industrial assembly regime agreements, according to the Federal Law №190. The law states that the car manufacturers have the right for compensation of extra costs, arising from the increases in customs duties on imports.

Source: RusAutoNews.Com