Fuel exports to be 3 times more profitable in 2017
According to the suggestions of the “tax manoeuvre” of the Ministry of Finance that set the excise duty rates and oil export duties for oil products, the export duty for fuel will fall from 90% in 2014 to 30% in 2017. In 2015 its rate will make up 78% of the oil duty, in 2016 – 61%. To pay back the mineral extraction tax growth for oil production, the Ministry of Finance suggests making equal the excise duties by all classes of car fuel to 4.5 thousand roubles/ton by 2017. It was previously planned that in 2015 the excise duty for the class-5 fuel will amount to 7,750 roubles, off class-2 and lower – 13,332 roubles.
It is also suggested reducing the excise duty for diesel fuel: from the planned 5,244 roubles for Euro-5 to 2.3 thousand roubles in 2015, to 2.8 thousand roubles for diesel fuel of all classes in 2017. The Government suggested covering the losses from the tax manoeuvre for the producers of naphtha for the oil chemicals sector and jet fuel by the means of introducing a tax deduction which will cover the difference between the exports and the domestic market price.