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Thursday, July 20, 2017

Oil companies decided to shift their taxes on to fuel consumers

“Kommersant” reported on matters of government plans to increase budget revenues from the oil industry, which can be expressed, in particular, to increase the excise tax on gasoline. According to the publication, such a model has requested the Cabinet of Ministers for oil companies.

photo: Kirill Iskoldsky

The idea of the Ministry of Finance was to increase the rate of mineral extraction tax for oil companies by $ 1 per barrel, in this case, the tax would have grown from 473 rubles to 1392 rubles per ton.

Representatives of the companies of the oil industry in response has offered its model: in this case, the rate of mineral extraction tax could be increased to a lesser extent, as part of the tax burden to pass on to consumers.

Here, according to the media, discussed several schemes: the first option is quite simply not reduce as planned, the excise tax. In this case, the severance tax will be increased to only 243 of the ruble.

The second option is oil — increase excise tax on diesel by 1 ruble per liter. In this case, the severance tax can be increased only to 128 rubles.

The experts explained that such proposals are beneficial primarily to those companies, whose share of production is much higher than the share of processing. In this case, the consumers of such option must have “painful”.


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