The customs duty for LCVs will be reduced to 5% in Russia for a year

The customs duty for LCVs will be reduced to 5% in Russia for a year

Vedomosti – The customs duty for LCVs will be reduced to 5% in Russia for a year. Russian Sub-Committee of Tariff Rates, Off-Duty Regulations and Measures of Conservation in Foreign Trade has decided to reduce the customs duty implemented on the imports of light commercial vehicles (LCV) to 5%, for the duration of a year.

As stated by Vedomosti, the Russian Sub-Committee of Tariff Rates, Off-Duty Regulations and Measures of Conservation in Foreign Trade has decided to reduce the customs duty implemented on the imports of light commercial vehicles to 5%, for the duration of a year. As stated by the ministry of economic development, the current customs duty for LCVs is 15%.

According to Vedomosti newspaper, the sub-committee decision will be sent to the government commission for approval. The decision is expected to come into force at the end of the 30-days period, following the approval of the Eurasian Economic Commission.

The sub-committee has also proposed extension to the exemption of electric vehicles from customs duties, for another year.