Bonded warehouses experiment may start in April 2023 in Russia

Business & Economy November 02, 2022, 14:44

It is reported that a bonded warehouse is a special economic zone, where online stores are able to import goods from abroad and keep them under customs supervision but without customs clearance

MOSCOW, November 2. /TASS/. The Russian Finance Ministry suggests staging an experiment starting April 1, 2023, on the sale of goods to individuals buying products in foreign online stores from Russian Post warehouses, according to a draft resolution seen by TASS.

The Finance Ministry, the Ministry of Economic Development and the Russian accreditation regulator will be in charge of the experiment, as indicated in the document.

"An experiment should be held from April 1, 2023 to April 1, 2024 on customs operations performance by the appointed operator (Russian Post) with the application of a bonded warehouse customs procedure in respect to goods imported to Russia for purposes of further purchases by individuals within the framework of international e-commerce and sent in international mail items," the document reads.

A bonded warehouse is a special economic zone, where online stores are able to import goods from abroad and keep them under customs supervision but without customs clearance, VAT, excise and customs duty payment and without application of licensing and quotas to goods during the period of storage until purchased by buyers.

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