18 Apr 2022 13:48

Steel makers to be exempt from liquid steel excise for own purposes

MOSCOW. April 18 (Interfax) - Russian Prime Minister Mikhail Mishustin has given orders to draw up a list of enterprises that will be exempt from the excise tax on liquid steel that was introduced for the metals industry starting this year.

The government says in information that these will be companies producing liquid steel for their own purposes. The decision also applies to industrial enterprises producing not more than 300,000 tonnes of enhanced quality steel with at least 20% alloying elements content per year.

The measure will ease the tax burden on enterprises working in the machine building, defense and aviation sectors.

The Industry and Trade Ministry will approve the list of enterprises soon.