The Russian government is planning a sharp cut in crude oil export duty with a simultaneous sharp growth of severance tax.
Russian oil export duty will rise $2.6, or 0.68 percent month-on-month on April 1, 2014, a leading expert at the tax and customs and tariff policy department of the Russian Finance Ministry Alexander Sakovich told Itar-Tass on March 17.
Russia’s Finance Ministry has suggested reducing the gasoline export duty gradually to 87% in 2017 from the current of 90% of the oil export duty rate, a source familiar with the matter told Prime on February 6.
As from 1 February 2014 Belarus will reduce export duties on oil and oil products exported outside the customs territory of the Customs Union, Belta reported on January 30. The decision is stipulated by Council of Ministers Resolution No.