Support The Moscow Times!

Putin Hints at Raising Tax

President Vladimir Putin on Tuesday raised the prospect of a further increase in beer taxes as part of the government's long-running campaign to curb drinking.

"Beer alcoholism is a serious problem. … We could raise beer taxes further," Putin said at a forum of pro-Kremlin youth groups. At the beginning of 2012, taxes on beer rose by 20 percent, and according to a Finance Ministry plan approved late in 2011, they will rise by a further 25 percent in 2013 and 20 percent in 2014.

Shares in Danish brewer Carlsberg, which earns nearly half its profits from the Russian market, closed down 4.98 percent Tuesday.

(Reuters)

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.