The Russian government proposes to fix the pre-sanction exchange rate for paying import customs duties, zero them for critical imports, increase the duty-free limit for online purchases by citizens by five times and suspend anti-dumping duties.
Such measures are contained in the working version of the anti-crisis plan of the Cabinet, which Izvestia has. The authenticity of the document was confirmed by a federal official, they are planned to be implemented before the end of March.
The liberalization of customs policy in the face of sanctions could cost the budget about 240 billion rubles of shortfall in revenue, follows from the plan and analysts’ calculations – this is less than 1% of the planned federal budget revenues (25 trillion rubles).
The most “expensive” measure will be fixing the exchange rate for import duties – it will cost at least 150-200 billion rubles. And the zeroing of duties on critical imports for six months will entail shortfalls in budget revenues in the amount of $45-65 million per month, a preliminary estimate in the Cabinet.
Based on the exchange rate of the Central Bank on March 19 (almost 104 rubles per dollar), six months of applying this measure will cost 34.4 billion rubles.
The Cabinet of Ministers is also ready to provide regions (with a budgetary security level for 2022 of less than 1.5) additional budget loans in the amount of 255 billion rubles “to pay off debt on government securities and loans received from credit institutions, foreign banks and international financial organizations” , the document says.
Read more in the exclusive Izvestia article:
Exchange rate retail: for import duties, the pre-sanction value of the currency will be fixed
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