Russia lowers VAT low value consignment relief
The Russian Ministry of Finance has proposed lowering the VAT-free threshold for goods imported into the country – ‘low value consignment relief’.
From 1 July 2018, the threshold will be cut from €1,000 to €500 per import. It will be further dropped to €200 on 1 January 2019.
Many other countries are reducing or scrapping VAT and Custom Duties thresholds on personal imports due to large-scale frauds. The EU is to scrap its threshold in the next two years.
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