PRESS: Fin Ministry may introduce reverse excise duty on rubber

MOSCOW, Apr 3 (PRIME) -- The Russian Finance Ministry plans to adopt amendments to the Tax Code in 2023 to introduce a reverse excise duty on synthetic rubber, business daily Vedomosti reported on Monday citing a report of the ministry.

“The parameters of the excise duty will depend on the exchange prices of natural rubber in the Singapore market and butane and butadiene (raw materials for production of rubber) in the Rotterdam market,” the daily reported.

In case of unfavourable prices for producers a reverse excise duty will be applied which will be repaid to the companies from the state budget.

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