Tax and accounting insights for Ukraine
05.07.24
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Hetmantsev supports the increase in excise duty on fuel

The Verkhovna Rada Committee on Finance has supported the draft amendments to the Tax Code to increase excise taxes on fuel for the second reading. This was reported by RBC-Ukraine with reference to Yaroslav Zheleznyak, a member of the committee, on Telegram.

According to him, it is planned that the draft law No. 11256-2 will come into force on September 1, 2024, although it was previously planned that excise taxes would be raised on July 1.

"In fact, they left the version that the government had before the first reading. This is how they returned the increase in excise taxation on liquefied gas (only from 2028, not €277, but €250)," he wrote.

https://t.me/yzheleznyak

In particular, starting July 1, gasoline rates will increase from 215.5 euros to 242.6 euros. Diesel rates will increase from 139.5 euros to 177.6 euros. Autogas rates will increase from 52 to 165 euros.

The draft law establishes a schedule of annual increases (over four years).

As a result, starting from January 1, 2028, the following excise tax rates are proposed for the main types of fuel: for gasoline - EUR 359 per 1000 liters, for gas oil (diesel fuel) - EUR 330 per 1000 liters, for liquefied gas - EUR 250 per 1000 liters.

As a reminder, the Cabinet of Ministers has submitted draft laws to the Verkhovna Rada to increase excise taxes on alcohol, fuel and tobacco products to generate additional revenues for the state budget.

According to the authors of the draft law, the adoption of the law will lead to a rise in the price of gasoline at gas stations by UAH 1.50 per liter, diesel by UAH 1.95, and autogas by UAH 5.8 per liter.

Author: Oleksandr Bilous

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