Putin has signed a bill on gasoline excise taxes raising

The President has signed a law on raising the excise taxes for oil products and cars for the next 3 years. He also specified the procedure for calculating mineral extracting tax. Rossiyskaya Gazeta Newspaper tells about the new tax rates and their impact on retail prices.

According to the changes introduced into the Tax Code, the excise rates regarding gasoline of low ecological classes will remain unchanged and will amount 13,100 rubles per ton. This rate will be in force until the end of 2019. The excise tax regarding gasoline of the 5th environmental class will begin to grow only in a year. In 2017 it will be, as it is today, 10130 rubles per ton, in 2018 it will amount 10535 rubles per ton and in 2019 it will amount 10957 rubles per ton.

Excise taxes for diesel fuel during the following three years will grow by almost 40 percent from the current level. The rate for 2017 is 6800 rubles per ton, for 2018 – 7072 rubles and for 2019 – 7355 rubles per ton.
Amendments to the Tax Code also specify the procedure for calculating the tax on minerals extraction. Thus, when calculating the tax, gas producers will have to take into account the revenues from the increase in the gas tariff for industrial consumers. And oil producers will have to take into account the complexity of extraction, if it is conducted from a well working simultaneously on several deposits of hydrocarbon raw materials. Minerals extraction tax for gas producing companies is assumed to grow in the following year by 413 rubles per thousand cubic meters, and by 306 rubles per ton in case of oil extraction.

In addition, during the next 3 years the excise tax on cars will continue to grow. For cars with engine power of up to 90 horsepower, zero rates will remain in charge, for cars with engines from 90 to 150 horsepower the rate will increase from 41 rubles per horsepower in 2016 to 47 rubles in 2019. For more powerful cars the tax will grow from the current 402 to 454 rubles in 2019.