Flexible export taxes based on the ruble exchange rate in Russia will come into force as of October 1. It has been introduced for a wide range of products, from metals to fertilizers and food products. The agency reports that “Hit the primer”.
Customs duties for most goods will be 4-7%, provided that the dollar exchange rate is below 80 rubles. The duty ratio for fertilizers is between 7% and 10%. As noted, flexible taxes will soften the impact of exchange rate fluctuations on the trade balance and expand the supply of goods in the domestic market. According to estimates, the introduction of taxes will add 151 billion rubles to the Russian budget by the end of 2022, and more than 600 billion rubles in 2023.
The government assured that the innovation will not affect the export volume and investment programs of companies. Deputy Prime Minister Denis Manturov added that duty rates can be adjusted if necessary.
Russian government in mid-September prohibited Fuel imports amid growth in publicly traded and retail gasoline and diesel fuel types.
Previously FAS excited Cases against the first oil companies.