• 20/04/2024 18:01

The Cabinet of Ministers approved a gradual increase in the excise tax on fuel over four years

Today, March 22, the Cabinet of Ministers approved a gradual approach of excise tax rates on fuel to the minimum level established in the EU. This was reported by the press service of the Ministry of Finance.

The Cabinet of Ministers approved a gradual increase in the excise tax on fuel over four years

Read the Ministry of Finance page on Facebook: the main financial news

Currently the excise tax rate for gasoline is 213.5 euros per 1000 liters, for diesel – 139.5 euros, autogas – 52 euros, alternative fuel – 162 euros. How it will change by 2028 – see the table.

Schedule for increasing excise tax rates on fuel (euro per 1000 liters):

The Cabinet of Ministers approved a gradual increase in the excise tax on fuel over four years

“The revision of excise taxes is due to the need to bring national legislation closer to the legislation of the European Union, which is important in connection with Ukraine obtaining the status of a candidate country for membership in the EU,” says the Ministry of Finance.

The draft law “On Amendments to Tax Code of Ukraine on bringing the legislation of Ukraine closer to the legislation of the European Union in terms of excise tax”, it is proposed to amend the Tax Code of Ukraine with the aim of:

    bringing the classification of alcoholic beverages into compliance with the standards of Council Directive No. 92/83/EEC regarding the definition of the term “intermediate products” – wines and other fermented drinks classified as codes 2204, 2205, 2206 in accordance with the Ukrainian classification of goods of activity ; increasing the excise tax rate for intermediate products from 8.42 to 12.23 hryvnia per 1 liter (by 3.81 hryvnia), that is, up to the level of the current rate for sparkling wines and carbonated wines; bringing excise tax rates on fuel to the minimum levels of such rates established in the EU, gradually over 4 years.

Additional revenues to the state budget

It is noted that the implementation of the provisions of the bill will ensure additional revenues to the state budget in the second half of 2024:

    from fuel sales operations – by 1 UAH .6 billion on average per month. Of these, 1.3 billion UAH from excise tax and 292 million UAH from value added tax; from operations for the sale of intermediate products – by UAH 4.5 million per month from the excise tax (calculation was made taking into account the sales volumes provided for in the state budget for 2024).

minfin.com.ua

Leave a Reply

Your email address will not be published. Required fields are marked *