As it has been known from rather informed source the legislative authorities are considering the possibility of introducing of beer excise duties prepayment.
According to the recent changes in excise tariff coming into force from 01.01.2014 beer excise tariff is 18 rub./l. which is equivalent to the figure of 180 billion rub. of annual excise payments. It is a bright outlook for the government to get these money resources today or in a year but it is not surprising that concrete draft bills are created from simple discussions.
How can this system operate? According to the draft order of the Federal Service for Alcohol Market Regulation “Concerning Capacity Calculation Methods of the Core Process Equipment for Production of Ethyl Alcohol or Alcohol-Containing Products and also for Beer, Cider, Poire and Mead Production”, brewing production capacity and annual excise duty will be calculated for every type of a product. Based on these conditions companies will have to place money on deposit equal to the annual assessed excise amount or submit a bank guarantee to the required amount.
At year-end and according to the real production volume there will be a reassessment and companies will have to pay a missing excise rate to the budget or get back the part of paid excise duty.
A recent Order of the Federal Service for Alcohol Market Regulation, whereby banks servicing alcohol industry must have authorized capital stock exceeding 60 billion rub., will strongly limit a list of banks that will be able to provide services to brewers. There will be only 11 banks mainly state-owned: Sberbank, Bank VTB, Rosselkhozbank, Alfa-bank, VTB24, Moscow Bank, Promsvyazbank, UniCreditBank, NOMOS, Raiffeisenbank and Rosbank.
You can find a list of banks according to the rating of shareholders’ equity here.
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