23:38 GMT +323 January 2020
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    St. Petersburg International Economic Forum 2018 (64)
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    ST PETERSBURG (Sputnik) - The Russian Finance Ministry may replicate the UK experiment of introducing excises on so-called "harmful products" such as sugary drinks, the Russian Finance Ministry told Sputnik on Friday.

    "As you know, a similar experiment has been launched this April in the United Kingdom. We want to see what results they will yield and after that, we will make a decision whether it is worth to do that. The issue will not yet be up for discussion this year," the head of the ministry's Tax and Customs Policy Department, Alexey Sazanov, said on the sidelines of the St. Petersburg International Economic Forum (SPIEF).

    The UK experiment should last for at least one fiscal year as the producers of drinks with added sugar may find ways to change the recipes and circumvent the excises, the official noted.

    "Let’s see how it turns out in other countries and then we will make a decision in ours. This idea deserves attention; everyone understands that sugar-containing drinks are not good for the body. We will monitor and analyze international experience," Sazanov said.

    In April, the United Kingdom officially introduced the so-called "Soft Drinks Industry Levy," under which the manufacturers will have to pay excises on drinks that contain high levels of sugar. The United Kingdom has followed the example of Mexico and Norway, among others.

    READ MORE: UK Follows 'US Global Policy' When Mulling Own Anti-Russia Sanctions — Analyst

    The SPIEF, held annually in Russia's second largest city of St. Petersburg, is a major networking hub for entrepreneurs and a global platform for the discussion of crucial economic issues. The event began on Thursday and will continue through Saturday.

    Sputnik is the official media partner of the forum.

    St. Petersburg International Economic Forum 2018 (64)


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