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. Last Updated: 07/27/2016

Auto-Import Tariff Cut to 25 Percent

In a move to curb illegal imports of foreign cars, import tariffs on all automobiles will be reduced from 30 percent to 25 percent as of Jan. 1, 2001, Prime-Tass reported Finance Minister Alexei Kudrin as saying Monday.

Kudrin, speaking after a meeting of the Foreign Trade Commission, said the tariff on light automobiles was "an exception" since four principal tariffs — of 5 percent, 10 percent, 15 percent and 20 percent — will replace the seven rates currently in use for imports of all stripes.

Monday’s meeting concluded the commission’s work for determining and unifying import customs tariffs.

Kudrin said that tariffs on 3,500 categories of goods would be reassessed.

"We will open up the market. This will undoubtedly bring in additional funds to the budget," he said.

Prime-Tass said the rate on importing technical equipment would also be reduced. But Kudrin did not say what exactly the new rate would be.