Excises for strong drinks, cigarettes and cars will increase effective Jan. 1, 2024, following the relevant amendment to the Internal Revenue Code approved by the State Duma budget and taxes committee, according to Tass.
“Excise rates are adjusted by the inflation level in accordance with the forecast of the Ministry of Economic Development,” said Deputy Finance Minister Aleksey Sazanov. “In other words, rates provided for the year of 2023 are adjusted upward for the years of 2024, 2025 and 2026 in line with inflation level expected for these years under the forecast of the Ministry of Economic Development. Accordingly, 5 percent in 2024, 4 percent in 2025 and 4 percent in 2026.”
Excises on cigarettes and papirosa cigarettes will go up by 5 percent in 2024 to RUB2,731 ($30.13) per 1,000 units plus 16 percent of the estimated value based on the maximum retail price but not less than RUB3,709, according to Interfax. This will increase to RUB2,840 plus 16 percent of the maximum retail price but not less than RUB3,857 in 2025 and to RUB2,954 per 1,000 units plus 16 percent of the maximum retail price but not less than RUB4,011 in 2026.
The excise on cigars will increase by 5 percent to RUB292 per unit in 2024 instead of the planned RUB289 and increase to RUB304 in 2025 and RUB316 in 2026.
The previously planned indexation for liquids for electronic nicotine-delivery systems will remain unchanged.