Russia to Cut Automobile Import Duties from Aug. 23

By ITAR-TASS report on August 6, owing to Russian access to the WTO, the Russia-Belarus-Kazakhstan Customs Union has revised its consolidated duty rate on automobile imports, and the renewed duty rate will take effect from August 23, 2012.

As ruled, Russia will lower by 5% its automobile import duties from August 23, in the next 7 years, the rate on new autos to drop from 25% to 15% and that of used autos to drop from 25% to 20%.

With new rates introduced, Russian average import duty on all goods will reduce to 7.36% from current 9.72%.

The Eurasian Economic Community council permits Belarus and Kazakhstan to continue their existing auto duties before their access to the WTO.