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Business Aviation Takes Customs Hurdle

Business Aviation Takes Customs Hurdle

The government has cut down from 20 percent to 10 percent the import duty on civil jets of foreign make with the layout of up to 19 armchairs. The duty will be completely abolished by mid. 2008.

Yesterday, the government promulgated a ruling on changes in the Customs Tariff Rates covering the import duty on foreign civil aircraft of the weight of up to 20 tons and the armchair number of no more than 19. For those jets, the duty shed from 20 percent to 10 percent.

It is just the beginning of process for complete abolishment of such duties, said Igor Konkov, advisor to Economic Development Minister German Gref. “The laws set forth one-time reduction of 50 percent of the stipulated amount. In nine months, we intend to lower the duties to zero,” the official said.

The bureaucrats stake on these efforts to encourage the firms and individuals to register business jets in Russia. In terms of value, the acquisition of such jets has reached billion already.

/ Новости