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Russia's Economic Development Ministry against sharp increase in alcohol excise tax

© RIA Novosti . Mikhail Mordasov / Go to the photo bankRussia's Economic Development Ministry against sharp increase in alcohol excise tax
Russia's Economic Development Ministry against sharp increase in alcohol excise tax - Sputnik International
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Russia's Economic Development Ministry is against a sharp increase in excise taxes on alcohol proposed by the Finance Ministry, Sergei Belyakov, head of the ministry's investment policy department, said on Thursday.

Russia's Economic Development Ministry is against a sharp increase in excise taxes on alcohol proposed by the Finance Ministry, Sergei Belyakov, head of the ministry's investment policy department, said on Thursday.

"We are against a sharp increase. The increase without an improvement in administration won't lead to anything good," Belyakov told RIA Novosti on the sidelines of the St. Petersburg International Economic Forum.

He explained that Russia's market for illegal alcohol, whose producers paid no taxes, was large and expected to grow further.

The Finance Ministry has proposed increasing excises to 330 rubles ($10.7) from 210 rubles ($6.8) per liter in 2011, to 490 rubles ($15.8) in 2012 and to 650 rubles ($21) in 2013 as it is looking for ways to mend budget deficits.

ST. PETERSBURG, Russia, June 17 (RIA Novosti) 

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