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The President signed the Federal Law On Amending Article 150 of Part Two of the Tax Code of the Russian Federation.
Intended to improve the mechanism for administrating tax breaks for value added taxes, the Federal Law vests authority in the Government of the Russian Federation to determine the list of medical products, as well as raw and complementary materials for their production, whose import is exempt from value added taxes.
The implementation of this amendment is driven by the need to classify such imported goods in accordance with the single commodity nomenclature of foreign economic activity of the Customs Union.
June 9, 2013