Decision concerning monitoring of retail prices modified

The commercial import transactions will be considered suspect by the Customs Service if the value of the imported goods will be lower than 60% (as against 40% earlier) of the average price on the domestic market, Info-Prim Neo reports, quoting a Government decision of February 2010. The decision instituted a monitoring mechanism whereby the Customs Service will transmit the information to the Center for Combating Corruption and Economic Crime and the State Main Tax Inspectorate for checking the prices in domestic trade. The decision says that regardless of the number of companies involved in the sale of imported goods, the profit margin cannot exceed 20% for 28 types of products of social importance, including the meat, fish, dairy products, cans for children, vegetables and fruit, flour, oil. The amendment was proposed by the Ministry of Agriculture and Food Industry. The imports that will constitute more than 35% of the total imports of a certain products the previous year will be also checked.