Deputy Prime Minister Denis Manturov, who heads the Ministry of Industry and Trade of the Russian Federation, revealed that the implementation of the labeling system has contributed a staggering amount of 471 billion rubles to the national budget. Manturov made this announcement during a meeting with Russian President Vladimir Putin and the Cabinet of Ministers. Furthermore, he highlighted the significant impact of the labeling initiative by stating that it led to a remarkable three-fold decrease in the sale of expired medicines in just one year.
“Our budget system also benefits from the introduction of labeling. Over the years of implementation of the mechanism, direct and indirect additional tax revenues amounted to 471 billion rubles. What is important is that fiscal results appear almost immediately after the inclusion of a new product group in the project. In particular, in the first year the volume of tax collections on dairy products increased by a third,” he said.
