Russia: Putin signed a law to increase excise taxes on wine and champagne

In the first eight months of 2023, the top three leaders in wine supplies to Russia included Lithuania, Latvia and Georgia Russian President Vladimir Putin signed a law to increase excise rates on wine and champagne from 2024. Currently, the excise tax on wine is 34 rubles per liter. From May 1, 2024 it will increase to 108 rubles/l, from January 1, 2025 to 112 rubles/l, from January 1, 2026 to 116 rubles/l. The excise tax on sparkling wines, including Russian champagne, is now 45 rubles per liter. From May 1, 2024, this rate will increase to 141 rubles/l, from January 1, 2025 - to 147 rubles/l, from January 1, 2026 - to 153 rubles/l. In the first eight months of 2023, Lithuania, Latvia and Georgia entered the top three in wine supplies to Russia, as shown by UN Comtrade international trade statistics. From January to July, wine worth $126 million was imported from Lithuania to Russia. Compared to the 2022 level, imports from this country increased by a third. Wine was imported ...