Abstract:

Excise taxes are widely used by both developed and developing countries as part of their economic policies. If applied wisely, excise taxes not only bring tax revenue to the government but also have an impact on consumption. The most suitable goods for levying excise taxes on are those that generate negative external effects. These could be foodstuffs and drinks that are bad for health, for example palm oil. The article examines the role and significance of excise taxes in the system of government revenue of Russia and China. It studies the list of excisable goods and the system of tax rates in Russia, China and other countries. The article also analyzes import and consumption volumes of palm in Russia and the People's Republic of China. The author provides evidence for the argument that palm oil should be added to the list of excisable goods in Russia and China and suggests reasoning for the proposed type and size of the tax rate. The conclusion is drawn that the implementation of the proposed measures would have a considerable fiscal effect and encourage a reduction in the consumption of products containing palm oil in Russia and China, thus improving public health. The purpose of the study is to design ways of improving the Russian and Chinese systems of excise taxes by expanding the list of excisable goods in order to increase the taxation system's fiscal and regulatory effectiveness.