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Excises in Russia to be adjusted upward from January 1, 2024

The statement was made during the discussion of amendments to the Internal Revenue Code

MOSCOW, July 14. /TASS/. Strong drinks, cigarette and car excises will be adjusted upward from January 1, 2024, with the relevant amendment to the Internal Revenue Code approved by the State Duma budget and taxes committee.

"Excise rates are adjusted by the inflation level in accordance with the forecast of the Ministry of Economic Development. 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% in 2024, 4% in 2025, and 4% in 2026," Deputy Finance Minister Aleksey Sazanov said during the discussion of amendments to the document.

Strong drinks excises will be adjusted upward by 5% in line with the inflation forecast, Sazanov told reporters earlier. All excise rates are adjusted by the inflation level, he added.

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