July 22, 1998

The Russian government has announced an increase of 3% on customs import duties on almost all imports from August 15, 1998 to December 31, 1999. The tax will not apply only to goods imported from other members of the CIS Customs Union (Belarus, Kazakhsta, and Kyrgyzstan).

Starting August 1, Russia will also rise duties on the import of white sugar and raw cane sugar to 20% and 74% respectively. The new rate is expected to last until next January.

According to Russian press reports, the government is also contemplating to lower the tariff rates on wool imports from 15% to 5% later this year and to halve import duties on packed tea to 10% from the current rate of 20%.

This report is provided courtesy of the Business Information Service for the Newly Independent States (BISNIS)