In the case of the introduction of export duties on the metals from August 1, the profit of companies will decrease by tens of billions of rubles, and the contributions to the budget will be significantly reduced, stated in the Association of Companies “Russian Steel”. Metallurgists, who previously accused the state in the Government, also threatened that the development of the situation could eventually “strengthen social tensions in the regions of the presence of companies.
In the Associations presented estimates in accordance with two scenarios – while maintaining the current market opportuncture and with a decrease in prices. In the first case, according to the estimates of the organization, exports will be reduced by a million tons, or about 40 billion rubles, and profit – by 150 billion. General deductions to the state budget will fall on 30 billion rubles, approve in association.
In the second embodiment, the decline in export deliveries should reach 2.5 million tons, or about 75 billion rubles. In this case, the profit will fall at 180 billion, and the budget is missing about 51 billion, emphasized in Russian Steel.
There also stated that the introduction of fees will reduce the investment attractiveness of the sector, limit the possible increase in the tax base and will prevent job creation, various social programs and modernization of enterprises. The Russian Stal Association believes that the decision on duties needs to be finalized and clarified with the representatives of the industry, “in order to reduce the negative impact on the development of domestic black metallurgy.”
On June 25, the government approved temporary duties for the export of metals. They will act from August 1 to December 31 of this year and should consist of two parts: a base rate of 15 percent and a specific component that will be calculated in dollars per ton. For copper, it will be $ 1226 per ton, for nickel 2321 dollar per ton and for aluminum – 254 dollars per ton. Against the background of the prospect of introducing measures, the shares of metallurgical companies fell in price.
Duties were introduced after In May, the First Deputy Prime Minister Andrei Belousov said that the metallurgists “ground” the state for about 100 billion rubles, using the market situation. In his opinion, this amount must be recovered in favor of the budget.