Excise duty growth for petrol is finally approved

​On Feb 29th 2016 V. Putin signed a law “On introducing changes to article 193 part 2 of the Tax Code”.

From April 1st 2016 excise duties for gasoline, diesel fuel, directly distilled gasoline and medium distillates grow.

This draft law was approved on Feb 26th in the accelerated mode.

From April 1st 2016 the excise duty for gasoline of class 5 increase from 7,530 roubles/ton to 10,130 roubles/ton, for gasoline not meeting class 5 and directly distilled gasoline – from 10,500 roubles/ ton to 13,100 roubles/ton, for diesel fuel and medium distillated – from 4,150 roubles/ton to 5,293 roubles/ton.

The excise duty per liter of gasoline increases by 2 roubles, for diesel fuel –by 1 rouble.

The Ministry of Finance thinks the effect from the growth of excise duties for fuel will make up 89.3 bln roubles in 2016, the funds will be transferred to the federal budget while previously excise duties were directed to the regional rod funds.