Russia's Import Tax

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31.01.2014.jpg(1)In an attempt to protect local operators Russia is considering placing an import tax on items purchased from foreign online retailers, the proposal suggested is up to 30% on anything over RUB7000 (USD202). According to Morgan Stanley only 2% of Russia’s retail sales come from online shopping however this is expected to rise to 5% by 2015,and with an estimated 70million internet users, these figures mean that such a proposal would be a devastating blow to international retailers . Russia is not alone, Argentina and Australia are also wagering war on international online retailers, Argentina is considering restricting the number of purchases its residents can make from international online retailers to two per year, whilst the Australian Government is under pressure to review tax regimes in order to limit the influence of foreign retailers, whom purportedly take up to 75% of the country’s online market.