The Russian State Duma Budget Committee supports a bill that sets out the procedures for collecting excise taxes on tobacco and nicotine-containing products following the transition to digital labeling and its management, Interfax reported.
Deputy Finance Minister Alexey Sazanov said: “The bill was developed because, from March 1, 2024, labeling requirements for tobacco and nicotine-containing products will change. We will abandon paper labels, switching to digital forms of labels.”
Sazanov said: “The term Accounting and Control Special Mark is being introduced. This is basically a barcode that will be applied to the packaging. Certain control requirements are being clarified, such as the tax base cannot be lower than that of tobacco or nicotine-containing products corresponding output and fixed in the national information system.”
Regarding what the digital labels will look like, Sazanov said: “There will be a form of a barcode, like an identification mark for medicines and dairy products, rather than an actual physical label.”
The Budget Committee of the Russian State Duma recently passed a bill aimed at establishing the procedures for collecting excise taxes on tobacco and nicotine-containing products after the transition to digital labeling and its management. This bill was developed to accommodate new labeling requirements that will be implemented from March 1, 2024, which will replace traditional paper labels with digital forms of labels.
According to the bill, Russian Deputy Finance Minister Alexei Sazanov said that the new digital label will introduce a term called “Accounting and Control Special Mark”, which will basically be applied to tobacco and Barcodes on packages of nicotine-containing products. These special markings will be used to clarify some control requirements, such as that the tax base of tobacco or nicotine-containing products cannot be lower than their corresponding production, and to fix this information in the national information system.
Sazanov also explained that the appearance of the digital labels will be similar to the identification marks of pharmaceuticals and dairy products, rather than traditional physical labels. This means that packaging of tobacco and nicotine-containing products will include a barcode for easy identification and management.
We can see the impact this bill could have on the vape industry. As a product containing nicotine, vapes will also be subject to new digital labeling requirements. This means that Veehoo vapes and other related brands will need to adjust their packaging to comply with the Russian government’s new requirements for digital labeling.
The passage of this bill also indicates that the Russian government is tightening its regulation of tobacco and nicotine-containing products. The introduction of digital labeling will make it easier for governments to track and manage the sale and consumption of these products. The move could help combat smuggling and illegal sales and provide more accurate tax data to support government revenue.
For Veehoo vapes and other vape brands, complying with new digital labeling requirements may require certain adjustments and investments. However, this can also be seen as an opportunity to push the industry to be more regulated and transparent. By better managing and monitoring the circulation of products, the vape industry can increase consumer trust in its products and provide the Russian government with more reliable data support.
In summary, the bill passed by the Russian State Duma Budget Committee marks the transition from traditional paper labels to digital labels for tobacco and nicotine-containing products in the country. For Veehoo vapes and other related brands, this will mean adjusting their packaging to comply with new requirements and comply with stricter regulations. However, it is also an opportunity to increase transparency and credibility in the industry. By better managing and monitoring the flow of products, the Russian government can more effectively combat illegal sales and obtain more accurate tax data.
Tags: Russian electronic tobacco labels，Russian vape bill，Russian vape bill update，veehoo vape