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Belarus to raise oil export duties on 1 March

March 02/2012

(news.belta) -- On 1 March 2012 Belarus raises export duties on oil and oil products. The relevant decision is envisaged in government resolution No.184 of 27 February 2012, from the press service of the Belarusian government.

On 1 March the oil export duty will go up from USD393.7 to USD411.2 per tonne. Starting from 1 March the uniform rate of export duty on light and dark oil products (apart from petrol), which since 1 October has been unified at the level of 66% of the duties on oil, will be USD271.4 per tonne as against USD259.8 in February 2012. The same duty is imposed on benzene, toluene, xylenes. The coefficient of 0.9 is applied to the export duties on commodity and directly distilled petrol. Thus they will equal USD370.1 per tonne as against USD354.3 in February. Duty on propane, butane, ethylene, propylene, butylene and butadiene, other liquefied gases is set at USD157.3 instead of USD181.7.

The resolution amended Resolution No.1932 of the Council of Ministers of 31 December 2010 On setting export duties on crude oil and some oil products and on abolishing some resolutions of the Council of Ministers of the Republic of Belarus. The document was adopted in accordance with Decree No. 716 of 31 December 2010 On the rates of export customs duties.

Starting from 1 October 2011 Belarus, following Russia, has been calculating export duties on oil and oil products using the formula 60/66. The formula is applied to the products exported outside the customs territory of the Customs Union. The formula implies that the rates of export duty on light and dark oil products have been harmonized and are calculated using the coefficient 0.66 (66%) of the oil duty. The duty on petrol is calculated using the coefficient 0.90 (90%).
Author:Anna Larionova
Tags:PE, PS, PVC.
Category:General News
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