State Duma to decide if to increase excise duties on petrol from April

On Friday at the plenary session the State Duma will consider and may adopt in the first reading and as a whole the government bill to increase the excise rates on gasoline, diesel fuel and middle distillates from April 1, 2016. It is planned that the document will be also considered by the Federation Council today.

As the Deputy Finance Minister Yuri Zubarev previously explained, this measure is aimed primarily at the filing the Russia's budget revenues. According to him, at current oil prices, the falling budget revenues are estimated at 1.5 trillion rubles, therefore, the possibility of "revenue mobilization" is sought for.
Implementation of the bill, according to Government’s estimates, will enable to transfer additionally 89.3 billion rubles to incomes of the consolidated budget of the Russian Federation this year.