Russia to Impose Digital Consumption Tax on Nicotine and Beer
According to a report from TASS, the Russian Finance Ministry has revealed plans to introduce a digital consumption tax on products containing nicotine and beer from the first quarter of 2024.
According to the document, the Russian Ministry of Finance has requested approval to stop using the Federal Excise Stamp Tax on tobacco products starting in 2024.
According to reports, Alexei Sazanov, the Deputy Minister of Finance, has stated that the government will determine the main direction of tax policies and develop relevant bills by the end of May.
The Ministry of Finance's document had previously been withdrawn by the cabinet for revisions. The revised content includes new procedures concerning the taxation authorities' evaluation of foreign individuals holding bank deposits and custodial accounts, simplification of pre-litigation tax dispute resolutions, and proposals for tax reductions for different types of taxpayers.
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Russian authorities have announced plans to phase out paper excise stamps for beer and tobacco products.
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