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The Russian Ministry of Industry and Trade has removed three countries from the list subject to increased customs duties on cosmetics products. Alongside Hungary, Slovakia and the Republic of Korea have also been granted exemptions regarding these tariffs, reported Világgazdaság.
The list of countries subject to these increased tariffs has changed: it has expanded, but some countries have been excluded from the increased duties on perfume and cosmetics products. The list of exceptions from the raised duties includes French and Italian powders, as well as Italian lip products. In addition,
under the new regulations, French goods categorized as “perfume,” “eau de toilette,” and “hair products” will be subject to a 20% customs duty instead of the previous 35%.
It was noted that the changes were also discussed with industry representatives. “The list of taxable goods was determined in cooperation with the business sector. This means that the measure only affects those types of products for which Russian manufacturers already produce domestic alternatives of comparable quality,” the ministry’s press service stated.
In the beginning of March, the Ministry of Industry and Trade had begun developing a set of regulations to support the return of foreign companies to Russia. At the same time, the ministry said that the issue of lifting tariffs on goods from “unfriendly” countries would “primarily depend on the lifting of sanctions imposed on our exporters.”
Via Világgazdaság; Featured picture: Pexels