Belarus doubles motor fuel excise rates for importers Jul 1, 2020
<p> MINSK, Aug 11 - PrimePress. Belarus raised excise taxes on motor fuels 2-fold and halved the reduction factor to the excise tax rates for producers in line with presidential decree No.300 of August 7, 2020 posted on the National Legal Internet Portal on August 11. This means that the excise taxes only doubled for fuel importers. </p> <p> </p> <p> The excise rates were raised retroactively from July 1, 2020. After the twofold increase, the rate for Euro-5 petrol is set at Br2,388.72 ($969.9 at the rate of the National Bank of Belarus) per tonne; petrol other than Euro-5 – Br3,848.64 ($1,562.6) per tonne; Euro-5 diesel fuel – Br1,474.64 ($598.7) per tonne; diesel fuel other than Euro-5 – Br1,864.4 ($757) per tonne. </p> <p> </p> <p> Previously, excise rates for importers were raised 4-fold on March 1, 2020. The rates for producers remained unchanged. Since July 1, 2020, the rates of excise duties for importers are 8 times higher than the rates for producers. The latter apply the reduction factor of 0.125 to the rate. End (Br2.4629/$1) </p> <p> </p> <p> Fuel oil subject to excise tax </p> <p> </p> <p> According to decree No.300, fuel oil sold to Belenergo’s energy supplying organizations that are part of and used by them to generate electricity and heat to substitute natural gas is an excisable commodity now. </p> <p> </p> <p> The excise rate per tonne of substituting fuel oil is calculated as a product of the export customs duty on fuel oil by the official rate of the Belarusian ruble to the U.S. dollar set by the National Bank of Belarus. </p> <p> </p> <p> Russia objects </p> <p> </p> <p> In late July, Russia questioned the excise taxes on fuel in Belarus, saying that this creates unequal conditions for the Belarusian refineries and Russian fuel suppliers to the Belarusian market. According to Deputy Finance Minister of Russia Alexei Sazanov, Belarus’ reduction factor to the excise rate on fuel does not meet the requirements of the World Trade Organization and the EEU Treaty, so Russia, as a WTO member, may initiate procedures stipulated for such cases. </p> <p> </p> <p> Disregarding this, Belarus has doubled the excise rates for importers, although they had already been next to prohibitive. End </p>
2020-08-11
Primepress
Belarus doubles motor fuel excise rates for importers Jul 1, 2020
MINSK, Aug 11 - PrimePress. Belarus raised excise taxes on motor fuels 2-fold and halved the reduction factor to the excise tax rates for producers in line with presidential decree No.300 of August 7, 2020 posted on the National Legal Internet Portal on August 11. This means that the excise taxes only doubled for fuel importers.
The excise rates were raised retroactively from July 1, 2020. After the twofold increase, the rate for Euro-5 petrol is set at Br2,388.72 ($969.9 at the rate of the National Bank of Belarus) per tonne; petrol other than Euro-5 – Br3,848.64 ($1,562.6) per tonne; Euro-5 diesel fuel – Br1,474.64 ($598.7) per tonne; diesel fuel other than Euro-5 – Br1,864.4 ($757) per tonne.
Previously, excise rates for importers were raised 4-fold on March 1, 2020. The rates for producers remained unchanged. Since July 1, 2020, the rates of excise duties for importers are 8 times higher than the rates for producers. The latter apply the reduction factor of 0.125 to the rate. End (Br2.4629/$1)
Fuel oil subject to excise tax
According to decree No.300, fuel oil sold to Belenergo’s energy supplying organizations that are part of and used by them to generate electricity and heat to substitute natural gas is an excisable commodity now.
The excise rate per tonne of substituting fuel oil is calculated as a product of the export customs duty on fuel oil by the official rate of the Belarusian ruble to the U.S. dollar set by the National Bank of Belarus.
Russia objects
In late July, Russia questioned the excise taxes on fuel in Belarus, saying that this creates unequal conditions for the Belarusian refineries and Russian fuel suppliers to the Belarusian market. According to Deputy Finance Minister of Russia Alexei Sazanov, Belarus’ reduction factor to the excise rate on fuel does not meet the requirements of the World Trade Organization and the EEU Treaty, so Russia, as a WTO member, may initiate procedures stipulated for such cases.
Disregarding this, Belarus has doubled the excise rates for importers, although they had already been next to prohibitive. End