Report: Russian metals firms to pay 250 bln rbl more in 2021 taxes

ST. PETERSBURG, Jun 3 (PRIME) -- Russian metals producers will contribute 250 billion rubles more in taxes to the state budget in 2021 than in 2020, co-owner and Chairman of the board of directors of steel producer Severstal Alexei Mordashov told Rossiya 24 on Thursday on the sidelines of the St. Petersburg International Economic Forum.

"The growth of prices, which is very high indeed, is a consequence… of global trends and processes. We pay more taxes though. Russia’s metals industry paid about 100 billion more of the corporate profit tax in the first half of the year and if the situation remains as is, the increase in the corporate profit tax will amount to 250 billion rubles against last year… This is a substantial sum," Mordashov said.

Russian metals producers are ready to provide big discounts on its products for large construction projects, Mordashov also said.

On Monday, First Deputy Prime Minister Andrei Belousov said that metals producers received about 100 billion rubles of windfall income in 2020 and must return the money to the state budget as taxes.

(73.4979 – U.S. $1)

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