ANNOUNCEMENT 03 Dec 2012In December 2012, the government of the Russian Federation announced a change to the import-specific domestic duties.
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On December 3, 2012, Mr Vladimir Putin, the President of the Russian Federation, signed the Federal Law on Amendments to Article 150 of Part Two of the Russian Federation Tax Code. It was approved by the Federal Duma on November 23, 2012, and by the Council of the Federation on November 28, 2012. The law exempts activities by state or municipal organisations, which are related to imports of cultural property from VAT. The measure is supposed to replenish the stocks of cultural property at the expense of budgetary and extra-budgetary sources. The law entered into force on January 4, 2013.