New duties on Russian log exports

New duties on Russian log exports
Logs exiting Russia’s Far East have been slapped with a 6.5 per cent export duty since last December. The progressive tax rate will climb to 40 per cent in 2019, 60 per cent in 2020 and up to 80 per cent by 2021.    The tax rate varies across species and regions. However, logs unsuitable for processing are exempted from this duty but the region’s total export allowance is capped at four million cubic metres per year, according to an ITTO bulletin.    The new customs law is meant to encourage ...

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