The export duty for oil products is established at $45 per ton against previous $37.5.
A record raise in export duties (the greatest increase for last year did not exceed $10) is connected with the change of the export duty scale.
In March the Economic Development and Trade Ministry and the Finance Ministry suggested increasing the tax burden on the oil sector with account for skyrocketing world prices for oil and the necessity to reimburse to the budget the "dropping-out" revenues from the reduction of the Unified Social Tax (ESN).
By estimates of these departments, the change of taxation will provide, with high oil prices (over $30 per barrel) additional proceeds to the budget worth over $3 billion annually.
Relevant amendments to the customs and tax legislation were prepared by the government and adopted by parliament within less than two months. On April 17 the Cabinet approved the new rate of the export customs duty for crude oil, which becomes effective on August 1.
The earlier scale of export duties envisaged taxation with the oil price from $15 to $25 per barrel at 35% from the difference between the actual price for oil and $25; with the price over $25 per barrel, the rate was 40% from the difference between the actual price and $25.
The new scale comprises the $15-20, $20-25 and over $25 per barrel intervals. The rate with the price over $25 per barrel is established at 65% from the difference between the actual price for oil and $25.
The present rate was calculated on the basis of the average world price for Russian Urals oil brand for the last two months, which for this time varied from $30 to $40.
At the same time, the export duty for oil products was raised. With the previous system of taxation it was calculated as 90% from the crude oil duty. With the new taxation system, the ratio is established at the level of 65% from the rate for crude, which gave a less considerable raise - just by $7.5. This was done to stabilize the galloping prices on the internal market of oil products.
Now the Economic Development and Trade Ministry is discussing with interested departments and major oil companies the new mechanism of establishing the duty for oil products. As German Gref, the Economic Development Minister, said earlier, it's necessary to work out "the rules of play for a long-term prospect."
The establishment of "long-term" duties for oil products will make it possible for companies to invest in their own oil-processing production, said Mr. Gref.
