Russian Prime Minister Dmitry Medvedev instructed Finance Minister Anton Siluanov to discuss within the framework of the Eurasian Economic Union (EAEU) a proposal to lower the threshold for duty-free import of parcels from foreign online stores into Russia, TASS reports citing the press secretary of the Prime Minister Oleg Osipov. The offer includes a reduction in the non-taxable minimum value of a parcel to €100 from January 1, 2020, to €50 from January 1, 2021, and to €20 from January 1, 2022.
Osipov noted that we are still talking about a proposal for consideration by the Council of Heads of Government of the Eurasian Economic Union (EAEU), which will still be discussed, including in the Eurasian Commission. Therefore, it is too early to talk about a final decision.
According to a TASS source, Siluanov's argument is based on the fact that when sending goods for personal use, VAT and import customs duties are not charged, unlike traditional retail. Therefore, the Ministry of Finance notes the flow of profits and taxes from Russia to foreign online stores.
The tightening of duty-free import conditions will ensure equal competitive opportunities for Russian and foreign trade, as well as prevent budget losses. Moreover, it is planned to do this on the territory of the entire EAEU.
According to the estimates of the Association of Internet Trade Companies, the volume of cross-border trade in 2019 may reach about 700 billion rubles, and in 2020 - more than 900 billion rubles.
Source: 3dnews.ru