Majilis approved the ratification of the protocol on redistribution on customs duty in EAEU - News | BNews

Majilis approved the ratification of the protocol on redistribution on customs duty in EAEU

31 January, 16:10 241
Majilis approved the ratification of the protocol on redistribution on customs duty in EAEU

Ratification and implementation of the Protocol will allow an equal approach, stable distribution and collection of customs duties into the budgets of the EAEU governments.

In preliminary hearing of the Majilis of the Parliament of Kazakhstan deputies approved draft law “On the Protocol on the application of certain provisions on the agreement on accession of the Kyrgyz Republic to the agreement of The Eurasian Economic Union from May 29, 2014, signed on December 23, 2014,” BNews.kz reported.

“Prior to signing the Protocol, the distribution ratio of import customs duties of Kazakhstan, the Russian Federation and Armenia was respectively 7,11%, 85,32%, and 1,11%.

In order to ensure equal distribution of customs duties the heads of the EAEU countries decided to revisit norms of customs duties distribution based on these following principles. First, do not take into account withdrawals from the unified customs tariff of the EAEU, both for Kazakhstan and Armenia. Second, to review the normative of the Republic of Armenia without taking into account the exceptions to 0.11% at the expense of the standards of the Republic of Kazakhstan and the Russian Federation” said the Minister of National Economy Timur Suleimenov.

According to him, after considering these principles the Protocol is signed with the following norms: Armenia – 1,220 %; Belarus - 4,560 %; Kazakhstan - 7,055 %; Kyrgyz Republic - 1,900 %; the Russian Federation - 85,265 %.

The Minister elaborated that the implementation of the Protocol entails a reduction in the rate of distribution of amounts of import customs duties, assuming conditional losses of the republican budget, which will amount to 1.8 billion tenge in 2017 and 1.9 billion tenge in 2018 and 2 billion tenge in 2019, taking into account inflation. There is a positive change into the republican budget commission from February 21, 2017.

Also, Timur Suleimenov highlighted that the ratification and implementation of the Protocol will allow an equal approach, stable distribution and collection of customs duties into the budgets of the EAEU governments.

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