Authorities may introduce excise duties on sparkling water and palm oil - Information portal

Authorities may introduce excise duties on sparkling water and palm oil

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05.02.2016 Количество просмотров 305 views
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This information appeared in mass media after the meeting held by Prime Minister Dmitry Medvedev.

"The list may include products with high fat and sugar content according to the WHO classification", mass media reported referring to an official from the finance and economy sector.

"A different approach is also possible: excise duties may be introduced only for sugar and palm oil - this will automatically increase prices for all products with high sugar and fat content, and, respectively, reduce their consumption", the source says.

A representative of the Ministry of Finance confirmed that a respective instruction was issued by the Cabinet of Ministers, and the Ministry itself plans to present the draft in the near future. The Ministry refers to taxes on potentially hazardous products as justified.

According to him, fist of all the excise duty of about USD 200 per ton will be imposed on palm oil. The tentative effective date is 1 June. Another source informed that the excise duty of 30% of the value may be introduced.

Maria Zhebit, the National Union of Milk Producers, commented:
"The National Union of Milk Producers made analytical calculations of use of diary and vegetable fats to find out that the share of adulterated products may not exceed 10%. Earlier the Union suggested that palm oil import should be restricted by quotas and penalties to be imposed for failure to indicate the vegetable oil content. It is necessary to be very careful about introduction of excise duties on sweet and fat products. Products with high fat content include cheese and butter, as well, which are calcium-rich and good for health in reasonable quantities, which is also stated by the Institute of Nutrition of the Russian Academy of Medical Sciences".
Source:  Retail&Loyalty


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