The Federal Customs Service of Russia has stated that it transferred tax and duty collected revenues to the State budget of ₽6.623 trillion (US$72.1 billion) which was 6.4% higher than in 2022. This came despite Western markets ceasing direct exports to Russia and shutting down their borders with Russia.
Finance Minister Anton Siluanov said that Russian customs had a target to submit over ₽7 trillion rubles (US$76.2 billion) to the State budget in 2024. He stated that “We believe that measures to strengthen customs administration and the proposals we set as tasks this year to better mobilize our capabilities to bring the treasury revenues will get us to the planned target. This can be done partly by strengthening the work of mobile groups to aid in the suppression of gray schemes for importing high-margin goods into Russia, such as cars, equipment and electronics. We have seen that goods such as these have been entering Russia recently using gray importation schemes. In addition, we need to increase the number of friendly countries with which we can establish simplified customs corridors and information exchanges.”
Import duties vary in Russia depending upon the product and the source, the country has numerous Free Trade Agreements with its trade partners, and these can provide reduced or zero import fees. VAT is generally a standard 20%. Russia’s 2023 total imports rose by 11.7% to US$285.1 billion as supplies from Europe fell by 12.3% to US$78.5 billion, while imports from Asia rose by 29.2% to US$187.5 billion.