On June 19, according to a report from TASS, the Russian Ministry of Finance is working in collaboration with the Russian Tax Service and the operator of the Honest Tag system (CRPT) to develop a comprehensive system for monitoring the payment of consumption tax on tobacco and nicotine-containing products based on their data. They also plan to eliminate paper-based consumption tax receipts for such products.
According to documents submitted to the Russian Federal Budget and Financial Markets Committee, the plan in question has been disclosed.
Currently, the Russian Ministry of Finance is working with the operating company of the Honest Label system, CRPT, and the Russian Tax Service to develop a mechanism that utilizes the Honest Label data system to ensure the integrity of tobacco and nicotine product consumption tax payments.
According to information provided by the Russian Ministry of Finance, this measure aims to assess the feasibility of a tax payment system based on data from an honest labeling system.
The Ministry of Finance further added that they plan on abandoning the federal consumption tax label for tobacco products (on paper). This measure applies to tobacco and nicotine-containing products that are produced and sold within Russia.
Russia's honest labelling system has been implemented since 2019. The system applies to products such as dairy products, bottled water, medications, tobacco, shoes, light industrial products, fur, perfumes, tyres, cameras, keg beer, e-cigarette devices and their liquids.
References:
The Ministry of Finance has announced its plans to abolish paper excise stamps on tobacco products.
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