Will the government introduce the excise duty on car tyres? - Information portal

Will the government introduce the excise duty on car tyres?

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08.02.2016 Количество просмотров 470 views
According to media reports, tyres can be included into the list of excisable goods and grow in price.

A government official told the press, that tyres can be added to the list of excisable goods, along with palm oil, carbonated beverages and electronic cigarettes.

Andrew Pantyukhov, Board Chairman of the Tyres Manufacturers Association and CEO of NokianTyres Russia, said in a media interview that he already knows about the probable innovations - this is discussed in the government.

Under the current economic conditions, with the declining car sales and decreasing spending capacity, the introduction of excise duties may lead to a significant increase in prices and further contraction of the market, he believes. This will be followed by staff reductions and a decrease in the country’s tax revenue.

Pantyukhov also notes that the car itself is already on the list of goods subject to excise, and the introduction of additional excise duty on one of its components would be excessive.
Source:  Retail&Loyalty


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