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Customs rates on export of some goods will be tied to the ruble exchange rate

26 сентября 2023
56

The Russian government has been introducing flexible export duties linked to the ruble exchange rate since October 1, 2023. This is stated in the relevant government resolution.

According to it, if the dollar worth 80 rubles or less, duties will be zero, if the exchange rate is higher – from 4% to 7% of the customs value. Export duty rates will be applied to goods exported from the Russian Federation outside the customs territory of the Eurasian Economic Union.

The new export duty applies to to alcohol, fertilizers, certain agricultural products, precious metals, finished meat, fish and seafood products.

Flexible tariffs will be in place until the end of 2024 to protect the internal market. As noted by the Russian Government, the regulation is applied to maintain a «rational ratio of export of goods and domestic consumption».

Nadmitov, Ivanov & Partners Law Firm advises on export of goods, services, intellectual property and supports conclusion of export-import transactions.

Email: info@nplaw.ru
Tel.: +7 (495) 649-87-12

 

+7 (495) 649-87-12