Alexey Mordashov, the main shareholder of Severstal and Chairman of the Board of Directors of the company, said at the “New trade architecture and economic interaction of the EAEU” session at the international export forum “Made in Russia” that the dollar exchange rate of export taxes may restrict exports from Russia. This was reported by TASS.
“No one can restrict our exports as much as export taxes. The situation with the budget, the need to renew it and the need to adjust the tax system are clear, but I want to avoid too painful and dangerous decisions,” Mordashov explained.
Before that Kommersant WroteThe government is considering the possibility of supplementing the export tax based on the ruble exchange rate, proposing to take into account world prices for taxable goods in its formula. Details of the new calculation formula have not yet been announced.
Market participants impressed by the innovation agree that the success of the updated mechanism will depend on the choice of the world price indicator.
Previously recognizedHow will the weakening of the ruble affect the state of the economy?