DUSHANBE, October 19. /TASS/. The Russian Finance Ministry is awaiting the position of the Industry and Trade Ministry regarding the potential introduction of an excise duty on imported steel, State Secretary and Deputy Finance Minister Alexey Sazanov told reporters.
"We are waiting for the Industry and Trade Ministry’s position on this matter. Based on that, we will decide by the second reading whether corresponding amendments to the Tax Code are necessary," Sazanov said.
In early August, Sazanov reported that a draft law on introducing an excise duty on imported steel had been developed and was under discussion with business representatives. At the time, the deputy minister noted that, if an agreement were reached, the tax amendments would be introduced in the autumn, ruling out the possibility of the excise duty taking effect in the fourth quarter of this year.
Earlier, the Finance Ministry prepared and submitted for approval a draft law on introducing an excise duty on imported metallurgical products made from liquid steel.
The calculation formula for the imported steel excise will be tied to the final products that utilize liquid steel in production. Under this approach, the excise duty amount will depend on the characteristics of the finished metallurgical products.