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                        THURSDAY, MARCH 28, 2024
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Import duties could cause fuel price spike, says Tax Service
Journal Staff Report

KIEV, March 1 – The introduction of fuel import duties without settling other issues influencing the formation of the oil market and the creation of a competitive environment on the market could lead to an increase in fuel prices and the growth in the share of counterfeit fuel in the country, according to a report by Ukraine’s State Tax Service.

According to the report, having examined a draft memorandum between the Cabinet of Ministers and Ukraine's oil refineries, the tax service proposes excise duties on light and medium distillates and gasoline be made equal, which will prevent tax evasion, as well as introduce a mechanism for obtaining light and medium distillates for the chemical industry.




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