Source link : https://london-news.net/russia-proposes-industrial-levy-to-protect-local-manufacturers-amidst-budget-strain/
Russian officials are considering the implementation of a new industrial tax designed to protect local manufacturers from international competition while addressing the growing deficits in the federal budget, according to Industry and Trade Minister Anton Alikhanov.
This initiative arises during a significant downturn in manufacturing activity, comparable to the early days of the comprehensive invasion of Ukraine, and in response to increasing financial pressures on the government.
During a speech to the Federation Council, Alikhanov pointed to a recycling fee that currently applies to the automotive industry as a successful example of such a policy.
Initially intended to cover environmental costs associated with the disposal of vehicles, this fee is charged to both domestic and foreign producers, although Russian manufacturers receive state compensation.
“The recycling fee has proven to be an effective protective measure for the local automotive market,” Alikhanov remarked.
Nonetheless, Maxim Sokolov, the president of AvtoVAZ, Russia’s leading car manufacturer, indicated that the recycling fee offers limited assistance and urged for more substantial state support.
“Alongside existing macroeconomic challenges, local manufacturers are contending with significant risks due to dumping practices by importers from various nations,” Alikhanov said, referring to the phenomenon of foreign companies selling products in Russia at prices below their market value, which…
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Publish date : 2025-07-04 14:11:00
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