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Computer Components Soon Duty-Free
Russian Minister of Economic Development and Trade Elvira Nabiullina has promised to eliminate the 10-percent duty on imported computer parts. That became known on Friday during the signing of an agreement between St. Petersburg Governor Valentina Matvienko and head of the Taiwanese company Foxconn Terry Gou on the construction of a high-technology production facility in that city.
“The parties implement the project under the condition of the reduction of the customs import duty to zero for parts for the assembly of computer equipment corresponding to the company's letter to the Ministry of Economic Development and Trade and simplification of the customs administration procedure and optimization of the procedure for calculating and paying VAT on foreign transactions,” the agreement reads in part.
Duties of 10-20 percent on most computer parts and personal computers were cancelled in July of last year. Most types of processors were exempted from 10-percent duties in a resolution that went into force on Sunday. Now memory, microprocessors, cables and other parts that are now subject to 5-10 percent duties are being exempted.
Gou met with Nabiullina before signing the agreement. The Economics Ministry is not commenting on the results of that meeting beyond confirming that it took place. Analysts note that, while the elimination of that duty may stimulate the placement of production facilities in Russia, it will not radically change the situation, since the customs tax on the 18-percent VAT will remain in force.
www.kommersant.com
All the Article in Russian as of Oct. 15, 2007
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Photo: Valery Titievsky
