The Customs Union Commission has reduced the rate of import duty on wrist watches from 20% to 10% of the customs value, CA-NEWS reported referring to the news agency Interfax-Belarus said.
The decision was taken on November 18, it comes into force on the 1 January 2012.
The minimum fee was raised, it is 10 euro per 1 watches now(currently the minimum fee is 3 euro).
Also, the decision of the Customs Union Commission regards the pocket watches, designed for wearing on or with, and stopwatches. The main requirement for watch mechanisms are: design of the body, it cannot be made or be clad out of the precious metal.
The watches made out of the precious metals will be transited by the current rate of import duty, which is 20%, but not less than 6 euro per one watches.
Customs Union lowers rate of import duty on wrist watches twice
The Customs Union Commission has reduced the rate of import duty on wrist watches from 20% to 10% of the customs value