The Russian government has exempted pollock and sardine fillets from exchange rate export duties

Published 2024년 11월 2일

Tridge summary

The Russian government has exempted certain fish and seafood products from the exchange rate export duties, which were introduced in September and range from 4% to 7% of the customs value. The exempted products include pollock fillets, sardines, and canned crustaceans, mollusks, and invertebrates. The Ministry of Finance does not plan to extend the duties past 2024, following concerns from the fishing industry about potential losses and the possibility of the duties being extended.

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Original content

Moscow. November 2. INTERFAX.RU - The Russian government has exempted certain types of fish and seafood products from the effect of dollar-linked export duties. According to the decree published on Saturday, the exchange rate export duty will not apply to pollock fillets (EAEU Commodity Nomenclature of Foreign Economic Activity code 0304 75 000 0) and sardines (HS code 0303 53 300 0). In addition, the duty will not apply to prepared or canned crustaceans, mollusks and invertebrates, which fall under the HS code 1605 59 000 0. Exchange rate export duties were introduced by Government Resolution No. 1538 of September 21, 2023, on a wide range of goods, including fish. The duty is from 4% to 7% of the customs value depending on the exchange rate of the national currency, it is charged at a rate of 80 rubles / $ 1 and higher. The amount of the duty is calculated monthly by the Ministry of Economic Development of the Russian Federation, for November it is a maximum of 7.0%. The ...

Source: Interfax