News
18.10.2024
EAEU zeroed import duties on certain types of raw materials containing precious metals for three years
It was decided to set the rates of import customs duties of the CCT EAEU in respect of certain types of raw materials of mineral origin containing precious metals or compounds of precious metals at 0% of the customs value until December 31, 2027 inclusive.
"Nowadays, the precious metals market in the Eurasian Economic Union has short supply of raw material sources for full capacity utilization. Taking into account the economic restrictions imposed on some EAEU states, businesses are beginning to build systems for supplying products from new partner countries. However, the need to pay import customs duties makes such supplies unprofitable," told Vahagn Ghazaryan, Director of the EEC Department of Customs Tariff and Non-Tariff Regulation.
According to him, the approved measure of customs tariff regulation will help cope with restrictions and will promote the development of processing and refining enterprises, will increase the capacity utilization and improve competitiveness.
Now the rates of import customs duties of the CCT EAEU in respect of the goods in question range from 3 to 15%.
The EEC Council has made necessary amendments to other Commission's acts as well.
Given the shortage of raw materials in the EAEU domestic market, zero rates of import customs duties were previously already applied to certain types of goods in question in accordance with Decisions of the Board of the Commission No. 117 dated October 25, 2016, No. 87 dated May 22, 2018 and No. 20 dated March 1, 2021.
