The Russian government has stated that if Russian metallurgical companies produce liquid steel for their own needs, they will be exempted from paying excise duty on liquid steel. The decision will also affect companies with an annual output of not more than 300,000 tons of special steel with an alloy content of at least 20%.
The list of companies exempt from excise tax will be approved by the Ministry of Industry and Trade in the near future.
The Russian authorities have set an excise rate on liquid steel of 2.7% from 2022 and a mineral extraction tax (MET) of 4.8% and 1.5% on iron ore and coking coal, respectively.
Russian metallurgical companies will be exempted from excise tax on liquid steel
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