Economics

Indefinite customs duty exemptions valid until 2029

According to the presidential decree, the validity period of the unlimited customs duty privileges is expected to be set at January 1, 2029 - a corresponding draft law will be developed within three months. The fixed-term privileges will be maintained until the expiration of the validity period.

A presidential decree has been issued aimed at introducing modern approaches to customs administration. According to it, indefinite customs duty exemptions will be valid until 2029.

The decree stipulates that the following changes will come into force from January 1, 2027:

* The existing customs duty exemptions and zero-rate privileges will remain in effect until their expiration.

* The validity period of indefinite customs duty privileges is set at January 1, 2029.

At the same time, the powers of the Interdepartmental Commission for Cooperation with the World Trade Organization to temporarily regulate tariff measures in foreign trade based on the requirements of the World Trade Organization will remain in force until January 1, 2028.

The Ministry of Economy and Finance was tasked with submitting the relevant draft law to the Cabinet of Ministers within 3 months.

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