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Medvedev proposes more rapid increase of alcohol, tobacco excises

In the words of Deputy Finance Minister Sergei Shatalov, alcohol and tobacco excises will grow by 20% by 2015

Photo ITAR-TASS

Photo ITAR-TASS

MOSCOW, May 8 (Itar-Tass) —— Candidate for prime minister Dmitry Medvedev has proposed to increase alcohol and tobacco excises more rapidly than planned.

“The rates of growth of alcohol and tobacco excises must significantly surpass the inflation. It would be expedient to raise them higher than the indicators set by the Tax Code for the medium-term prospect and contribute the additional revenues to regional budgets,” Medvedev said.

In the words of Deputy Finance Minister Sergei Shatalov, alcohol and tobacco excises will grow by 20% by 2015. He said the excise rates would meet the levels set by the Tax Code in 2013-2014. “Both excise rates will increase by 20% in 2015,” he said.

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