MOSCOW, February 24. The state Duma Committee on budget and taxation recommends the lower house of Parliament to approve in the first reading a bill to increase from 1 April 2016 the cost of the excise taxes on gasoline and diesel fuel.
The Finance Ministry expects growth of cost of gasoline for the year by 5% due to the increase of excise duty on fuel
“We assume that the increase will not lead to a substantial increase in retail prices for gasoline. According to our estimates, the likely price increase will be about 5%, which is below the CPI and below inflation,” he said at the Committee meeting, Deputy Finance Minister Yury Zubarev.
He added that raising the excise tax on gasoline is one of the measures to increase budget revenues in a difficult economic situation.
“This measure is primarily aimed at the replenishment of the revenue side of the budget. At current oil prices, falling revenues estimated at 1.5 trillion rubles, a significant sum. Therefore, being sought all avenues for revenue mobilization”, said Zubarev.
The bill proposes introducing amendments to article 193 of the Tax code of the Russian Federation. As follows from the explanatory note, from 1 April 2016, increase the rates of excise duties on motor gasoline, directly distilled gasoline, diesel fuel and middle distillates.
In particular, the excise rate for gasoline increased by 2 rubles. per 1 liter of gasoline. “The excise tax on motor gasoline of the 5th class, valid from 1 April to 31 December 2016, will be 10130 rubles. for 1 ton. The excise rate on diesel fuel is proposed to increase from 1 April to 1 RUB. per 1 liter of diesel fuel,” the document says.
Thus, the excise rate for diesel fuel, effective 1 April to 31 December 2016, will be 5293 rubles. for 1 ton.
Also from April 1 excise duty rates for middle distillates, it is proposed to establish in size, equal to the rate of excise tax on diesel fuel.
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“In order to minimize the possible negative impact of measures on the agricultural sector the rate of excise on diesel fuel is increased by 50% from the level of increase of the excise rate on car gasoline”, – stated in the explanatory note to the draft law.
It is expected that in the first reading the bill will be considered at the Duma plenary session on Friday, February 26.
Earlier it was reported that the additional revenues of the consolidated budget of the Russian Federation of increase of excises on gasoline and diesel fuel may be in 2016 to 89.3 billion rubles.
This year, on the proposal of the Ministry of Finance the excise tax on fuel was increased, from 1 January the rate of gasoline Euro-5 increased by 36.1% or on 2 roubles to 7,53 rubles per liter, and for diesel fuel – by 20.3%, to 4.15 rubles. per liter. Last time twice in one year, the excise tax increased in 2013.
Assessment of Rosstat, in 2015, inflation in Russia amounted to 12.9%, gasoline prices rose 4.8%.