Excise tax on beer is RUR 500 per liter of draught and bottled beer, and RUR 900 per liter of canned beer Investments made in exchange for new issues of share are considered contributions to equity, and are received by the enterprise tax free. A foreign investor is free to repatriate profits earned in Russia. Subject to international tax agreements, such profits are free from double taxation. The information contained herewith is based on information made available to the public and is for information purposes only. Information sources are deemed reliable by RMG Securities, however RMG Securities abstains from any liabilities determined from the information herewith.
Analysis is based on dated market information and is subject to change.