MARKET DEVELOPMENT
Russia Will Impose Excise Duty on Palm Oil
Russia Will Impose Excise Duty on Palm Oil
17/02/2016 (UkrAgroConsult) - The Russian government will expand the list of excisable goods to increase revenues in budget. Such "harmful" products will be included - palm oil, fizzy drinks and so on. Goods with high fat and sugar content may be also included to the list.
There is another proposal that is also under discussion – the introduction of excise duty in the amount of 30% of the cost. Now palm oil costs about USD 600/MT, and the 30% rate will amount to USD 200.
There is another proposal that is also under discussion – the introduction of excise duty in the amount of 30% of the cost. Now palm oil costs about USD 600/MT, and the 30% rate will amount to USD 200.