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Infrastructure Ministry expects introduction of excise tax on fuel from Sept or Oct
KYIV. Aug 15 (Interfax-Ukraine) – Minister of Infrastructure Oleksandr Kubrakov expects the introduction of an excise tax on fuel from September 1 or October 1 this year.
"I think it will depend on how quickly the bill is considered in the Verkhovna Rada. If it is considered in the coming weeks, it could start working from September 1 or October 1," he said at a briefing in Kyiv on Monday.
According to him, with the return of the excise tax, the country will receive about UAH 2-3 billion of budget receipts per month.
According to the Ministry of Infrastructure, a partial refund of excise taxes on diesel and gasoline will have a minimal impact on retail prices.
The Cabinet of Ministers supported a bill with amendments to the Tax Code of Ukraine, which provides for a partial return of excise rates on fuel that were in effect before the full-scale invasion.
As reported, in March, the Verkhovna Rada abolished the collection of excise taxes on fuel. This decision was due to the acute crisis in the Ukrainian fuel market, caused by the global fuel crisis and Russia’s attacks on infrastructure designed for the storage and transportation of energy.
