Belarus not to drop claims for compensation for Russian tax maneuver – Semashko
<p> MINSK, Jul 1 - PrimePress. Belarus does not remove compensation for losses it incurred due to the tax maneuver in the Russian oil industry from the agenda of Belarusian-Russian negotiations, Ambassador of Belarus to Russia Vladimir Semashko told reporters on July 1. </p> <p> </p> <p> “Compensation of losses from the tax maneuver remains on the agenda, because this hits our economy,” BelTA state newswire quotes Semashko as saying. </p> <p> </p> <p> According to the ambassador, Belarus considers the tax maneuver in the oil industry of Russia a serious infringement of bilateral agreements on the energy supply regulation and the baseline agreements on the establishment of the Eurasian Economic Union, which do not allow domestic duties. </p> <p> </p> <p> Semashko said that the Ministries of Finance of Belarus and Russia had nearly agreed on a protocol on inter-budgetary compensation for the premiums paid to Russian companies that supply oil to Belarus. Previously, the parties set to reduce the premium from $11.7 to $4.7 per tonne. According to the Russian Finance Ministry, the amount of such inter-budgetary compensation from the Russian budget would total around $60 million in 2020. </p> <p> </p> <p> As reported, the tax maneuver in the oil and gas industry of the Russian Federation provides for gradual zeroing of the export duty on oil with a simultaneous increase in the tax on mineral extraction. The marginal duty rates calculated by the Russian government are multiplied by 0.833 in 2019, 0.667 in 2020, in 0.5 in 2021, 0.333 in 2022, and 0.167 in 2023. Russia will abolish the export duty on oil from 2024. </p> <p> </p> <p> Belarus’ Finance Ministry estimates the total loss incurred by the oil refining industry in 2020 due to the tax maneuver at $400 million. </p> <p> </p> <p> During the 2019 talks on Belarus-Russia integration, the latter agreed to compensate for losses from the tax maneuver by subsidizing the reverse excise tax for the Belarusian refineries (Mozyr Oil Refinery OJSC, Gomel Oblast, and Naftan OJSC, Novopolotsk, Vitebsk Oblast), but only if the taxation laws of the two countries were unified, and the unified tax code was planned to be put into effect in January 2022 at the earliest. End </p>
2020-07-02
Primepress
Belarus not to drop claims for compensation for Russian tax maneuver – Semashko
MINSK, Jul 1 - PrimePress. Belarus does not remove compensation for losses it incurred due to the tax maneuver in the Russian oil industry from the agenda of Belarusian-Russian negotiations, Ambassador of Belarus to Russia Vladimir Semashko told reporters on July 1.
“Compensation of losses from the tax maneuver remains on the agenda, because this hits our economy,” BelTA state newswire quotes Semashko as saying.
According to the ambassador, Belarus considers the tax maneuver in the oil industry of Russia a serious infringement of bilateral agreements on the energy supply regulation and the baseline agreements on the establishment of the Eurasian Economic Union, which do not allow domestic duties.
Semashko said that the Ministries of Finance of Belarus and Russia had nearly agreed on a protocol on inter-budgetary compensation for the premiums paid to Russian companies that supply oil to Belarus. Previously, the parties set to reduce the premium from $11.7 to $4.7 per tonne. According to the Russian Finance Ministry, the amount of such inter-budgetary compensation from the Russian budget would total around $60 million in 2020.
As reported, the tax maneuver in the oil and gas industry of the Russian Federation provides for gradual zeroing of the export duty on oil with a simultaneous increase in the tax on mineral extraction. The marginal duty rates calculated by the Russian government are multiplied by 0.833 in 2019, 0.667 in 2020, in 0.5 in 2021, 0.333 in 2022, and 0.167 in 2023. Russia will abolish the export duty on oil from 2024.
Belarus’ Finance Ministry estimates the total loss incurred by the oil refining industry in 2020 due to the tax maneuver at $400 million.
During the 2019 talks on Belarus-Russia integration, the latter agreed to compensate for losses from the tax maneuver by subsidizing the reverse excise tax for the Belarusian refineries (Mozyr Oil Refinery OJSC, Gomel Oblast, and Naftan OJSC, Novopolotsk, Vitebsk Oblast), but only if the taxation laws of the two countries were unified, and the unified tax code was planned to be put into effect in January 2022 at the earliest. End