Russian government has postponed the utilisation fee payments for car manufacturers

Russian government has postponed the utilisation fee payments for car manufacturers


 

RNS.- The government has postponed the utilisation fee payments of car manufacturers for the first and second quarters of 2020 until the end of the year, according to a resolution published on the legal information portal.

“As decided by the government, large manufacturers engaged in the production of wheeled vehicles (chassis) and trailers within the framework of Special investment Contracts (SPIC) signed with the Russian Ministry of Industry and Commerce will be under the obligation to pay utilisation fees for the first and the second quarters of the year until 1 December 2020, along with the affiliates recognised by the aforementioned enterprises” – as stated in the document.

The Ministry of Industry and Commerce had previously proposed the postponement of the utilisation fee payments for the first three quarters of 2020 in order to support the industry during the Coronavirus. The initiative was commissioned by the Russian President Vladimir Putin later on.

SPIC have been signed with almost all major car manufacturers in the Russian Federation. The Ministry of Industry and Commerce has concluded SPIC with Volkswagen, GM-Avtovaz, Avtotor, PSMA (Peugeot-Citroen-Mitsubishi), Toyota and Volvo. Contracts had earlier been signed with Avtovaz with the participation of Renault-Nissan-Mitsubishi, Mazda Sollers, Hyundai and Daimler. Amongst commercial vehicle manufacturers, contracts have been signed with Daimler Kamaz, Sollers, alongside a joint venture between Japanese Isuzu and GAZ Group.