According to the Prime agency, the Federal Customs Service (FTS) of Russia has introduced a simplified procedure for the temporary import of cars by individuals for personal use.
The temporary import regime provides for the possibility for foreign citizens to import personal vehicles into Russia without paying taxes and duties for up to one year. Citizens of Russia under this regime can import cars registered abroad for a total period that should not exceed six months.
It is worth noting that this is not the first initiative aimed at supporting car owners in the face of external sanctions. Currently, the State Duma is considering amendments to the Tax Code, which would increase the minimum threshold for the cost of a car, which is subject to the “luxury tax”, from 3 million rubles to 10 million rubles. In addition, the government allowed citizens to receive “credit holidays” – a deferral of payments on car loans.
At the end of January 2022, the import of passenger cars to Russia increased by 39.2% to 24.9 thousand cars. According to the data of the Federal Customs Service of Russia, cars worth $618.8 million were imported into Russia during this period.
In the meantime, a surge in car thefts is expected in Russia due to a ban on the import of new cars and spare parts.
Source: ixbt
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