In 2023, due to increased demand and a hike in sales tax, the prices of electronic cigarettes in Russia may rise by 25-30%, while the prices of e-cigarette liquids may increase by over 70%.
News.ru reported on Olga Lebedinskaya, the Associate Professor of the Department of Statistics at the Plekhanov Russian University of Economics, and Lev Grigoriev, the Chairman of the "Russian Association of Market Participants in Electronic Nicotine Systems".
Lebedinskaya pointed out that electronic cigarettes are becoming increasingly popular. As a result, if the Russian market is estimated to be 40.5 million units in 2020, it may exceed 93 million by 2021.
According to experts, an increase in demand can cause electronic cigarette prices to rise by 20%, and considering increases in consumption tax, costs may increase by 25-30%. It is expected that e-liquid prices will also rise next year. "If the consumption tax almost doubles, like what the Ministry of Finance is proposing now, then according to our calculations, the price of this bottle will increase by 74%, reaching 2700 rubles (about 301 yuan)," said Grigoriev.
Earlier, Alexei Sazanov, the Deputy Minister of Finance, announced the agency's proposal to increase the consumption tax rate of tobacco and nicotine-containing liquids by 25-30%.
He also emphasized that the cabinet is considering this measure.
2FIRSTS will continue to follow and report on this topic. Further updates will be available on our mobile app, '2FIRSTSAPP.' Scan the QR code below to download the app.
This document has been generated through artificial intelligence translation and is provided solely for the purposes of industry discourse and learning. Please note that the intellectual property rights of the content belong to the original media source or author. Owing to certain limitations in the translation process, there may be discrepancies between the translated text and the original content. We recommend referring to the original source for complete accuracy. In case of any inaccuracies, we invite you to reach out to us with corrections. If you believe any content has infringed upon your rights, please contact us immediately for its removal.
