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Salvage Fee Law Signed

A new salvage fee will be levied on every car imported into or built in Russia from Sept. 1 on, under legislation signed into law by President Vladimir Putin on Friday.

Officially, the new salvage fee is meant to cover the future costs of decommissioning and recycling cars at the end of their lifetime, with revenues raised going to the development of new recycling facilities.

In practice, the main role of the new charge is to replace excise duties on cars, which will be abolished with the country's full accession to the World Trade Organization.

(MT)

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