Eugene Arkusha: Changing the principles of taxation in export of fuel oil may result in a problem for many refineries

Changing the principles of taxation of export duties on fuel oil can lead to big problems for many refineries. This opinion was expressed to the Oil and Gas Information Agency by president of Russian Fuel Union Eugene Arkusha.

Let’s recall from January 1, 2015 the tax maneuver came into force, according to which over 3 years we will see a reduction of export duties on oil (1.7 times) and petroleum products (1.7-5 times) depending on their type with concurrent increase in the tax rate on extraction (MET) of oil (1.7 times) and gas condensate (6.5 times). Also, the increase in domestic prices of petroleum products is expected. According to experts, during the year, petrol price will rise by about 10%.