Russia to drop excise duty on gasoline and introduce tax on petrol stations

May 06, 1999 02:00 AM

The Russian government is likely to drop its initial plans to mark up the excise duty on gasoline and introduce a tax on petrol stations instead, an official told.
Head of the government department for finance and monetary regulation Alexander Pochinok said the imputed income tax will be fixed and charged in advance.
The measure will enable the state to draw money from "the gigantic delta which exists today between selling prices and retail prices at petrol stations," Pochinok said.
At the present time, petrol stations do not pay anything, he added.
Current oil prices on the world market have grown, boosting oil companies' revenue. The government thinks that its approach -- to charge money where it is available without hurting producers -- is justified, according to Pochinok.
He emphasised that the initial plan to raise the excise duty on gasoline would result in direct price hikes. The decision to drop the plan followed "a serious discussion," he noted.

Source: Itar-Tass via Newspage
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