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Russia implements tax incentives for auto parts imports

Categories:Company news
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Time of issue:2012-08-16
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(Summary description)From January 15th, Russia will implement tax incentives on the import of auto parts. This is a preferential policy adopted for the implementation of the "industrial assembly" program in the Russian automotive industry.

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Russia implements tax incentives for auto parts imports

Categories:Company news
Author:
Origin:
Time of issue:2012-08-16
Views:0

Information

From January 15th, Russia will implement tax incentives on the import of auto parts. This is a preferential policy adopted for the implementation of the "industrial assembly" program in the Russian automotive industry.

　　 In order to implement this plan, Russia’s existing automobile joint ventures should sign a 7-year agreement with the Ministry of Economic Development and Trade, and the newly-built joint venture should sign an 8-year agreement. The agreement should indicate a list of auto parts that enjoy tax incentives. After 24 months of arranging welding, painting and assembly work, the investor should reduce the import of components by 10% based on the value (excluding the car body), reduce by 10% after 42 months, and 10% after 54 months. %.

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