Transource

INCREASED TARIFF ON USED TRUCKS PROPOSED

October 23, 2003
Source: BISNIS--Automotive Sector News

The government commission for trade protection and tariff policy has recommended to the Cabinet of Ministers to introduce a special specific duty on used trucks older than seven years of 1 euro per cubic centimeter of engine capacity, Economic Development and Trade Minister German Gref told journalists.

The current duty amounts to from 5% to 15% of customs value, depending on the type of truck. A source in the commission explained to journalists that in essence this would involve the introduction of a prohibitive duty, the aim of which is to renew the truck fleet and to prevent the import of used trucks.

The duty will come into effect a month after the publication of the corresponding government resolution.