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Home > News > Industry Activities > Russian Trade and Industry Department Suggests 11.6% Tax on Some Bolts, Nuts and Washers Applied in Machine Area

Russian Trade and Industry Department Suggests 11.6% Tax on Some Bolts, Nuts and Washers Applied in Machine Area

By ChinaFastener Magzine , 2010-04-29 12:00:00

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According the report from RosInvest in 26, April, 2010, Russian Trade and Industry Department suggests imposing 11.6% tax on some bolts, nuts and washers imports which are applied in machine manufacturing area; the tax can not be lower than 282.4 USD per ton 

 

According to Information from Russian Industry and Trade Department, implementation of the proposed tariff will last for 3 years, including black metal bolt with diameter of 6-30 mm, nuts with 5-30 mm diameter, 6-42mm black metal gasket. This special tariff will not be applied in fastener imports in motorcycles; it is not applicable in fastener imports from Belarus or countries in the list of "Russia's preferential system" countries. Worth to mention that despite that China is one of the "Russia's preferential system" countries, Russian importers still need to pay this special tariff on above mentioned products.

 

According to the application of some Russian enterprises, Russia will carry out investigation on hardware imports starting from May, 2009. The statistics from Russian Trade and Industry Department shows that from 2006 to 2008, Russia imports of fastener products in machine manufacturing area increases 62%, while in the domestic market, the production and sales decline 13.9% and 14.7% respectively. 

 

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