Electrometallurgists will not pay excise tax on steel for April owing to prices - Siluanov on request for concessions

MOSCOW. May 26 (Interfax) - Electrometallurgists will not pay excise tax on steel for April owing to the low prices for the metal, Finance Minister Anton Siluanov said in response to the request from businesses for concessions for electrometallurgists.

"The situation in April was such that excise duty should not be paid," Siluanov said during a meeting between President Vladimir Putin and representatives of the country's business circles on Monday, noting that prices for steel are currently low. "It is better not to follow the line of targeted exemptions, but rather use the existing support measures."

Putin in turn requested that Siluanov work on the matter jointly with his colleagues from the Economic Development Ministry.