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Russian Regions to Raise $30 Bln More Excise Revenues

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The Russian government intends to give the regions the powers to use 1 trillion rubles ($33 billion) in extra revenues from planned increases in alcohol and tobacco excise duties, President Dmitry Medvedev said on Tuesday.

The Russian government intends to give the regions the powers to use 1 trillion rubles ($33 billion) in extra revenues from planned increases in alcohol and tobacco excise duties, President Dmitry Medvedev said on Tuesday.

“A process of broadening the (revenue) base of regions and local self-government bodies should be launched. It would be appropriate to transfer additional revenues from the intended rise in alcohol and tobacco excise duties to these levels,” Medvedev said at a meeting of the State Council.

“We must considerably expand the volume of financial resources which regions can use at their discretion. The figure, which was discussed is about 1 trillion rubles,” he said.

 

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