Russian rubber producers will receive a support

In order to support the production of synthetic rubbers, the President of Russia instructed to prepare an appropriate changes to the tax legislation of the Russian Federation.

Following the meeting on the strategic development of the petrochemical industry, held on December 1, 2020, the President of Russia instructed the Government of the Russian Federation to ensure the introduction of amendments to the legislation of the Russian Federation on taxes and fees, aimed at the use of a special damping mechanism when the synthetic rubber are sold.

The mechanism implies the taxation of sales operations depending on the exchange price for natural rubber in foreign markets. Such measures must be implemented by June 30, 2021.

News source: https://ria.ru/