Armenia’s share in CU import duties to be clear in mid March

Armenia’s share in CU import duties to be clear in mid March

YEREVAN, February 25. /ARKA/. Armenia’s share in import duties collected in the Customs Union will be defined in mid March, Armenia’s deputy minister of finance Suren Karayan told reporters Monday.

The negotiations are under way and the final formula for distribution will be clear in mid march, he said.

As from September 1, 2010, customs duties are calculated and distributed between the Customs Union countries under a special agreement. In particular, import duties are paid to a single account and then distributed between the budgets of the member-countries as follows: 87.97% to Russia’s budget, 4.7% to Belarus and 7.33% to Kazakhstan.

Various distribution methodologies are discussed in the negotiations, Karayan said. For instance, Russia, Kazakhstan and Belarus used proportions from the UN statistics for imports from third countries for 2007-2008.

Deputy head of Armenia’s State Revenues Committee Vardan Mirumyan said common customs duties do not relate to products manufactured in countries Armenia has a free trade regime with, Georgia in particular. This may have impact only on Armenia’s share while distributing the duties between CU-member countries, he said. –0--

13:00 25.02.2014

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