The government had previously postponed the deadlines for payment of the excise tax on liquid steel and the mining tax on iron ore for ferrous metallurgy enterprises. The terms of such payments have been extended until December 1, 2025 inclusive.
Illustrative photo: mechel.ru
The plans of the ministries are reported by TASS with reference to the head of the Ministry of Industry and Trade Anton Alikhanov.
"Specifically, with the Ministry of Finance, we are considering the possibility of adjusting the rules for paying excise duty on liquid steel in terms of expanding the use of hot briquetted iron by electrometallurgical enterprises in steel smelting, and not only ferrous scrap, as well as exemption from excise duty for new capital-intensive projects with investments of at least 50 billion rubles."The excise tax on liquid steel is an indirect tax levied at the production stage, rather than at the sale of finished products. It applies to steel in liquid form: ingots, ingots, blanks obtained in blast furnaces. The decision to introduce an excise tax was made against the backdrop of a record increase in global steel prices in 2021-2022.
