As calculated by the initiators of the project, the adoption will lead to an increase in the price of gasoline at gas stations by 1.50 UAH per liter, diesel by 1.95 UAH, and autogas by 5.8 UAH per liter.
The Verkhovna Rada voted on changes to the Tax Code regarding the increase in excise taxes on fuel. This was announced by MP Yaroslav Zheleznyak on Telegram on Thursday, July 18.
In general, bill No. 11256-2 was supported by the votes of 231 parliamentarians. The representatives also supported amendment No. 267 on the increase in excise taxes on autogas.
So, from September 1, excise tax rates on fuel will increase from 215.5 euros to 242.6 euros. Diesel fuel rates will increase from 139.5 euros to 177.6 euros. Autogas rates will increase from 52 to 165 euros.
The law establishes a schedule for annual increases in excise taxes.
Yaroslav Zheleznyak/Telegram
From January 1, 2028, the following excise tax rates will be established on the main types of fuel: for gasoline 359 euros per 1000 liters, for gas oils (diesel fuel) – 330 euros per 1000 liters, for liquefied gas – 250 euros per 1000 liters.
As calculated by the initiators of the project, the adoption will lead to an increase in the price of gasoline at gas stations by 1.50 UAH per liter, diesel by 1.95 UAH, and autogas by 5.8 UAH per liter.
The explanatory note in the document adds that the implementation of the law will help increase budget revenues:
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to the state budget from fuel sales operations with increased fuel excise tax rates of UAH 1,604.72 million on average per month in the second half of 2024, of which UAH 1,311.87 million from excise tax and UAH 292.84 million hryvnia from value added tax (calculation is made taking into account the volumes of fuel sales included in the State Budget of Ukraine for 2024);
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in the state budget for excise tax from operations for the sale of intermediate products with increased excise tax rates of 4.5 million 4 hryvnias per month from excise tax (the calculation was made taking into account the sales volume, considered in the State Budget of Ukraine for 2024).
As reported, the Cabinet of Ministers proposes to increase excise tax rates on tobacco products from July 2024.
New excise taxes on gasoline: how much will we pay at gas stations?
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.