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The Russian government has approved new export duty rates on mineral fertilizers until the end of 2024.
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The Russian government has approved new export duty rates on mineral fertilizers until the end of 2024.

The Ministry of Russia has set new tariffs for the export of mineral fertilizers: from December 13 to December 31, 2024, the duty rate will be 7%. The government has reduced it by the end of 2024 to reduce the tax burden on producers. The flexible system is in effect until the end of 2024 and applies to various goods.

23 December 2024 23 December 2024

The Ministry of Economic Development and Trade of the Russian Federation has published new export duty rates on mineral fertilizers in accordance with the Government resolution.

Earlier, the Government reduced the current duty rate on the export of mineral fertilizers until the end of 2024, setting it at 7%.

Thus, from December 13 to 31, 2024, the duty will be 7% of the customs value of fertilizers, as reported by the Ministry of Economic Development and Trade.

"This measure will help reduce the tax burden on producers of mineral fertilizers, who have been paying an increased rate of export duty since last autumn," the Ministry noted.

The flexible system of export duties, in effect from October 1, 2023, until the end of 2024, applies to a wide range of goods, including mineral fertilizers. For mineral fertilizers, the duty rate is 10% when the exchange rate is above 80 rubles per dollar and 7% when it is below. For other goods, the duty rate is set in the range of 4% to 7% with a dollar rate of 80 rubles.

"At the same time, measures ensuring sufficient satisfaction of domestic demand for mineral fertilizers at affordable prices are maintained—there are quantitative and price restrictions," added the Ministry of Economic Development and Trade.

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