Translated material
The Ministry of Finance will not introduce excise taxes on palm oil
The Ministry of Finance has abandoned the idea to introduce excises on palm oil. This was officially confirmed by the assistant to the head of the department, Svetlana Nikitina, TASS reports .
At the same time, the concept of introducing an excise tax on sugar-containing drinks will be ready by the end of 2016, Deputy Finance Minister Ilya Trunin told TASS. “We are working on a concept for introducing excise taxes on soda. I think that it will be ready by the end of the year," Trunin said.
Earlier in May, media sources reported that the government had abandoned excise taxes on palm oil, as market analysis showed that such a measure would not have the desired effect on the budget, but, on the contrary, could negatively affect the food industry.
The Ministry of Agriculture at first supported the idea of introducing an excise tax, but later the head of the department, Alexander Tkachev, said that this would not only not bring positive results in agriculture, but could also undermine some of its industries.