Ministry: Cancellation of excise on liquid steel impossible
MOSCOW, Jun 24 (PRIME) – Cancelling Russia’s liquid steel excise is impossible, but the Finance Ministry is ready to consider adjustments to its formula in September–November, Deputy Ministry Alexei Sazanov said on Friday during a meeting of the budget and tax committee of the parliament’s lower chamber State Duma.
“We have agreed that we will look into the financial position of the metals companies in May–June. It is obvious that a decision to cancel the excise on liquid steel is impossible, because it is a long-term source of financing of the federal budget’s spending,” he said.
“At the same time, we are ready to discuss adjustments for its formula during the autumn session if worsening of the financial and economic conditions of metals companies is confirmed.”