The head of the Russian Union of Industrialists and Entrepreneurs announced the Ministry of Finance’s plans to collect at least 50 billion rubles. from duties
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President of the Russian Union of Industrialists and Entrepreneurs (RSPP) Alexander Shokhin said that, according to the Ministry of Finance, business could receive at least 50 billion rubles. in October after introduction government flexible export duties on a wide range of goods.
“We can only rely on the estimates of the Ministry of Finance; in my opinion, he wanted to collect at least 50 billion,” Mr. Shokhin told reporters (quoted from “Interfax”). He added that the size of the payment can vary and amount to “up to several hundred” billion rubles, since the duty is calculated using a formula tied to the dollar exchange rate.
According to the government decree, flexible export duties on live animals, fish, dairy products, vegetables, fruits, precious metals, precious stones, pearls, ferrous and non-ferrous metals and some other goods will range from 0% to 7% depending on the dollar exchange rate. Zero duty is established at 80 rubles/$ and below. As the government explained, the measure will protect against unjustified price increases.
Read more in the Kommersant FM article. “Export duties have been given flexibility”.
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