According to the document, the government is tasked with submitting proposals on two fronts: lowering the excise rate on liquid steel to support EAF-based producers and suspending excise payments for metallurgical companies that launch new production facilities. The proposals must also specify the duration for which the suspension would be valid. The deadline for submission is set for September 1.
Earlier, Ivan Demchenko, shareholder of the Novostal-M metallurgical holding and President of the Association of Electric Steel Producers (AEMP), told TASS that eliminating the excise duty on liquid steel would help prevent mass bankruptcies and safeguard jobs in the sector.
About the Liquid Steel Excise
Since early 2022, Russia has imposed an excise tax on liquid steel at a rate of 2.7% of the average monthly export price for steel slabs, based on FOB (Free on Board) terms at seaports in the Southern Federal District.
For EAF-produced steel, the excise is calculated differently—set at 30% of a formula-based result. This formula factors in the average monthly export price for steel billets (FOB), the average price of steel scrap, and the cost of ferroalloys and alloying elements used in steel production per ton of product. The excise applies when the price spread between billet and scrap exceeds 12,500 rubles.
If the calculated excise exceeds 1,000 rubles per ton, it is capped at that level for the tax period.
This move comes amid growing concern in the EAF sector, which has been struggling with rising production costs and global market volatility. Industry representatives are hopeful that easing the tax burden could provide much-needed relief and incentivize further investment in domestic steelmaking.
Yorumlar
1 yorum yapıldı