Belarus to reduce export duties on oil and oil products from January 1
28/12/20120 views
28 December, Minsk /Tatsiana Grigorovich - BELTA/. Belarus will reduce export duties on oil and oil products from January 1, 2013. This decision is contained in Resolution of the Council of Ministers No. 1222 of December 27, 2012, BELTA was informed by the press service of the Belarusian government.
The export duty on crude oil will decrease from January 1 from $396.5 to $395.6 per 1 ton. The unified export duty rate for light and dark oil products (excluding gasoline), which has been unified at 66% of the oil duty since October 1, 2011, will be $261.1 per 1 ton from January 1, 2013, compared to $261.7 per 1 ton in December 2012. The same duty is set for benzene, toluene, and xylenes. For commercial gasoline and straight-run gasoline, the rate of export customs duties, based on a coefficient of 0.9, will be $356 instead of $356.8 per 1 ton in December. At the same time, the duty on propane, butanes, ethylene, propylene, butylene and butadiene, and other liquefied gases will increase from $197.4 to $198.7.
The resolution amends Resolution of the Council of Ministers No. 1932 of December 31, 2010 "On establishing export customs duty rates for crude oil and certain categories of goods produced from oil, and repealing certain resolutions of the Council of Ministers of the Republic of Belarus". The document was adopted in accordance with Decree No. 716 of December 31, 2010 "On export customs duty rates".
Since October 1, 2011, Belarus, following Russia, has been calculating export duties on oil and oil products using the 60/66 formula. This applies to products exported from the territory of the republic outside the customs territory of the Customs Union. The calculation formula implies that the export duty rate for light and dark oil products is unified and calculated with a coefficient of 0.66 (66%) of the oil duty rate. Simultaneously, from October 1, the export duty on oil was reduced by decreasing the percentage of the difference between the oil monitoring price and the cut-off price from 65% to 60%. In this case, the calculation coefficient for the duty rate on gasoline is 0.90 (90%).
Since 2011, Belarus has been importing Russian oil duty-free but transfers export duties on oil products produced from this hydrocarbon raw material and sold to third countries to the Russian budget. The republic credits export duties from the sale of its own extracted oil (about 1.7 million tons per year) to its own budget. For 2011, this amount was $3.07 billion.-0-
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