EAEU extends zero import customs duties on waste, scrap of precious metals until 2029

MINSK. Dec 24 (Interfax) - The board of the Eurasian Economic Commission (EEC) has set zero import customs duties on waste and scrap of precious metals until December 31, 2028, inclusive, the EEC press service said.

"The effectiveness of applying a similar customs tariff regulation measure in the preceding period is confirmed by the maintenance of the capacity utilization level of refining enterprises in the Eurasian Economic Union, as well as an increase in the volume of consumption of waste and scrap of precious metals," the press service quoted Vaagn Kazaryan, Director of the Department of Customs Tariff and Non-Tariff Regulation of the EEC, as saying.

Kazaryan clarified that precious metals are used in various industries owing to their physicochemical properties, and sources of primary raw materials are limited.

The import customs duty rates of the EAEU single customs tariff for waste and scrap of precious metals are 15% of the customs value. However, a 0% import customs duty rate has been applied to these goods from June 2015 to the end of December 2025 in accordance with previously adopted decisions of the EEC board.