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		3 December 2021
		

Excise duty on liquid steel has been introduced in Russia

В России введен акциз на жидкую сталь Liquid steel is an alloy of iron with carbon, which is used as a raw material for the production of metal products. It is produced both in the traditional way in open-hearth furnaces and in electric furnaces (in 2020, 23 million tons of 72 million tons of steel). The second method is much more expensive. The law provides for the establishment of a standard for the transfer of excise tax to the federal budget - 83% and to the budgets of the regions - 17%. The purpose of the changes is to compensate for the possible formation of falling incomes. The initiative to introduce excise duty arose after a sharp rise in prices for metallurgy products in 2021. As explained to "RG" in the press service of the Ministry of Finance, the excise tax rate on liquid steel smelted in steelmaking furnaces is calculated taking into account world prices for final products. The calculation of the excise tax rate on electric steel takes into account the features associated with the market value of raw materials (steel scrap), and additional costs associated with the properties of the steel produced and its chemical composition. At the same time, the excise tax rate on steel, smelted

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