VALUATION Corp. provides professional valuation services in regard to machinery and equipment imported into Russian Federation
According to the current Russian legislation, machinery, equipment and other goods, when imported into Russian Federation are subject to import duties and Value Added Tax (VAT).All import duties and taxes must be calculated based on market value of the imported equipment.
With new equipment, the Russian custom authorities usually calculate taxable value based on existing catalogues, contractual prices and other standard sources of price information.
With used equipment, however, the situation is slightly different. The value of used equipment heavily depends on the amount of wear and tear and some other specific criteria, so when used machinery and industrial equipment is imported it is advisable to have its market value independently valued and present the valuation report as proof of fair market value of the imported items to Russian custom authorities. This will considerably speed up the process of custom clearance.
We have extensive experience in machinery and industrial equipment valuation for custom purposes in Russia and should you require any assistance with this matter, please contact us.
For further details concerning valuation of equipment and movable property in general, including list of required documents and information, please click here
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