Gov't introduces new taxes on imported cars

Russian Prime Minister Mikhail Kasyanov has signed a ruling on leveling customs taxes on 3 to 7 year old foreign cars imported by individuals and legal entities. The new procedure will come into effect in a month after its official publication, the department of government information reported.

According to the ruling, customs taxes on a car with an engine less than 1,000 cubic centimeters will be EUR0.85 per cubic centimeter, on a car with the engine from 1,000 to 1,500 cubic centimeters it will be EUR1, from 1,500 to 1,800 cubic centimeters the tax will be EUR1.5, from 1,800 to 2,300 cubic centimeters it will be EUR1.75 per cubic centimeter, from 2,300 to 3,000 cubic centimeters the tax will be 2 euros, and for engines over 3,000 cubic centimeters it will be 2.25 euros per cubic centimeter.