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Qiwi plc Message Board

  • erv2995 erv2995 Feb 3, 2014 9:34 AM Flag

    Qiwi limit for one cross-border purchase of EUR 150 reportedly to be set for one parcel, not per one month

    Qiwi, Yandex � limit for one cross-border purchase of EUR 150 reportedly to be set for one parcel, not per one month
    VTB Capital
    February 3, 2014

    News: Vedomosti quotes Alexander Ivanov, President of Russian National Distant Trade, as saying that the government has principally approved the limit of EUR 150 exempted from customs duties per individual parcel, not per one month, as it was suggested initially. The current monthly limit is EUR 1,000, no limits per parcel.

    Our View: We view the newsflow as positive sentiment-wise for the companies exposed to e-commerce. While the development does not impact domestic online retail operations, it might signal that the government seems to be stepping back from introducing the most severe measures that could partially stunt the attractiveness of ecommerce / e-money operations for individuals.

    Cross-border sales remain very popular across Russia: if the suggested threshold of EUR 150 is exceeded, individual customs duties would be around 30%. Given that the average online check for cross-border purchases is 30-70% lower than the domestic one, international online retailers' offers might remain more attractive for Russians, given the lack of internal production of the most popular goods that are sold online: gadgets, clothes, children's goods.

    Sentiment: Strong Buy

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