21 Dec 2017 14:03

State Duma endorses EAEU Customs Code's precedence over Russian laws

MOSCOW. Dec 21 (Interfax) - The bill prescribing that Russia's entire customs laws be enforced consistent with the Eurasian Economic Union (EAEU)'s Customs Code starting January 1, 2018, passed the third and final reading in the State Duma on Thursday.

The bill amends the customs regulation law and adds a new article, 322.1, which says that the aggregate of Russian customs laws should comply with the new EAEU Customs Code since the day the code takes effect. Any legal discrepancies will be regulated via Russian Finance Ministry decrees.

Deputy Finance Minister Ilya Trunin explained a delay in the adoption of the customs regulation law at a meeting of the State Duma Budget and Tax Committee with the ongoing ratification of the EAEU Customs Code, for instance, by Kyrgyzstan.

The EAEU Customs Code was signed in Moscow on April 11, 2017. The new Russian customs law was supposed to take effect on January 1, 2018, for which it had to be approved by the State Duma before December 1.