Armenia will continue to levy its current duty on import of cars after entry into Eurasian economic union

YEREVAN, December 2. / ARKA /. For five years Armenia will continue to levy its current duty on import of cars after the entry into the Eurasian Economic Union, Deputy Finance Minister Suren Karajyn said today during a parliamentary discussion on Armenia’s accession to the Eurasian Economic Union.

He said until 2020 the duty on imports of cars from third countries will be  10%. He said all cars that went through customs clearance prior to October 10, 2014  will move freely within the territory of the EEU and the cars that  went through customs clearance after that  period  will have to pay the difference in customs duties applied in Armenia and the EEU.

Imports of passenger cars to Armenia in January-September 2014 increased by 21.5% from the same period last year to $218.8 million, according to the Customs Service.  A total of 34,200 cars were brought in to the country, up from 26,300 cars imported in the same time span of 2013. 

The aggregate customs duties levied on imported cars in January-September surged by 20 percent from the year earlier to 35.9 billion drams. Overall, 35,901 motor vehicles were imported to the country in the first nine months, up from 28,125 in the same period of 2013.

The price of 22,450 imported cars were below $5,000 each, the price of another 8,300 cars ranged from $5,000 to $10,000, the price of another 2,132 cars was between  $10,000-$15,000, the price  of 2,019 cars  was between $15,000-$30,000 and the price of 1000 cars was $30,000 and higher.

Some 858 cars were Russian-made (a decline of 26.3%); customs duties levied on these cars grew by 24.3 percent to 906 million drams. - 0-