Russia will reduce import tariffs on hides

Russian media reported that after joining the World Trade Organization, by 2014, Russia should reduce the import tariffs on hides or processed hides by half. The import tariff on finished fur products will become an ad valorem tariff and will also be reduced by half by 2015.

According to the existing obligations documents concerning the Russian Federation’s entry market, tariffs on imported fur products with a 10% import duty or processed fur will be reduced to 5% by 2014. In 2013, the tax rate should be determined as 7.5%.

Currently, the import tariff rate, which is currently a compound tariff and roughly equal to 10%, but fur coats and other fur products of no less than €30 each, will become an ad valorem tariff from the time of accession to the World Trade Organization and reach 20 %, and its tariff rate will be reduced to 10% immediately by 2015, and its tariff will still be 20% in 2013-2014.

In addition, this applies to fur coats made of Greenland seal cub fur or fur coats made of young cape furs. Imports of such fur coats are currently subject to a higher tariff of 20%, but each item is not Less than 50 euros. Similarly, this applies to children's clothing for sheepskins, rabbitskins and hares. Currently, such children's clothing is levied at 7.5%, but not less than 10 euros each.