26 Oct 2017 13:36

State Duma ratifies agreement on EAEU Customs code

MOSCOW. Oct 26 (Interfax) - The Russian State Duma has voted in favor of ratifying an agreement on the Eurasian Economic Union (EAEU) Customs code at an additional session on Thursday.

The agreement provides for common customs regulations within the EAEU.

The customs code aims to streamline customs transactions, to further liberalize customs rules and to codify certain pre-existing EAEU agreements.

Significant changes to regulation procedures in customs are envisaged, in particular, rules covering the release of goods, the terms for the authorization of bodies to act as declarants, customs officials and authorized economic operators, the rules for the excise of customs duties and taxes subject to customs procedures as well as expanding the use of electronic declaration and the further removal of customs checks following the release of goods.

The document will replace the customs code of the Customs Union which was adopted in 2009.