Prime-TASS News (Russia) reports that the Russian government may lower import duties on car components to 5-10% of their customs value from 10-15% in the near future.
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The report cited remarks by Boris Alyoshin, director of Russia’s Federal Industry Agency.
The government has prepared a draft ruling to expand the list of components on which lower import duties will be introduced, he said.
In particular, the government may lower import duties on components that are scarce on the Russian market, Alyoshin said. These components include electric equipment and components for engines, he added.
Lowering import duties is aimed at supporting Russian automobile plants, including Russia’s largest automakers AvtoVAZ and GAZ, which do not enjoy lower import duties for components, unlike foreign companies that assemble their cars in Russia, he said.
Last year the government ruled to eliminate or substantially reduce import duties on auto components for “industrial assembly” facilities that have an annual output of at least 25,000 vehicles. The move was designed to encourage foreign automakers to begin producing in Russia.
