MOSCOW TIME: 12.08.2020 21:27:32

Economy

Russia to reduce threshold of duty-free import of parcels below 500 euro

Russia to reduce threshold of duty-free import of parcels below 500 euro

The Russian Government will continue reducing the threshold of duty-free import of parcels below 500 euro in order to make conditions of doing business equal for Russian and foreign online stores, Deputy Minister of Economic Development Oleg Fomichev told TASS in an interview.

"We will reduce the cost of parcels exempt from the duty step by step. It is 1,000 euro now and will be 500 euro later. We must reach the level of developed economies, so that customs duties are levied on a greater portion of products. Russian online stores are actually paying all these duties," the official said.

The Russian government wants to create conditions for development of the domestic online commerce, Fomichev noted. "It appears now that domestic participants are in less beneficial conditions versus foreign ones because of taxes and requirements to certification of products," he said.

The work will continue in the taxation sphere, Fomichev said. "We see a range of challenges in terms of administration. However, these matters are currently discussed with all major foreign participants," he added.

Source:www.tass.com

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Russia duty-free import parcels

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