Govt says hopes to submit a bill on rubber dampening in 2021

MOSCOW, Aug 31 (PRIME) – The Finance Ministry will prepare a draft law on the damping mechanism for rubber by October and expects to submit it to the State Duma lower house of parliament by the end of the year, Deputy Finance Minister Alexei Sazanov told reporters on Tuesday.

“We are preparing the bill. We will have another discussion with business in the middle of September. I think that some time in October we will already come up with the wording of the bill and begin the process of introducing it to the State Duma. I think that by the end of the year the bill will be submitted to the State Duma,” Sazanov said.

He said that at the moment almost all the positions of the parties have converged, the only thing left is to link the mechanism to the quotations.

“We propose to stick to the quotations for rubber, and the business proposes to stick to the spread of quotations for rubber and raw materials used for rubber production. I think these are solvable issues. We will hold a number of meetings in September, and I think that in October we will have a draft law ready, and by the end of the year we will submit it to the State Duma,” Deputy Minister said.

In January, Russian President Vladimir Putin instructed the government to introduce provisions for the damping mechanism to support production of synthetic rubbers into the tax legislation by June 30.

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