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Russian finance ministry considering abolition of export duty on gold

Earlier, the Federation Council’s budget and financial markets committee recommended that the amendment on an increase in MET on gold from June 1 to December 31, 2024 be approved

© Kirill Kukhmar/TASS

MOSCOW, April 16. /TASS/. Russia’s Finance Ministry is considering the possibility of abolishing the export duty on gold, head of the Finance Ministry’s tax policy department Danil Volkov said.

"The issue is under consideration now," he said addressing the Federation Council when asked about possible abolition of the export duty on gold amid an increase in MET on gold from June 1 until the end of 2024.

Earlier, the Federation Council’s budget and financial markets committee recommended that the amendment on an increase in MET on gold from June 1 to December 31, 2024 be approved. The initiative is aimed at making up for shortfall in revenue related to falling gold export.

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