The Cabinet of Ministers submitted to the Verkhovna Rada a draft law on the abolition of the zero excise tax on petroleum products.
On March 15, the Rada established zero excise rates for gasoline, GP and liquefied gas, as well as a reduction in VAT from 20% to 7%.
Upon the return of the excise tax, prices for petroleum products at gas stations will remain at the current level. This opinion was expressed on his Facebook page by the director of the A-95 Consulting Group Sergey Kuyun.
The Cabinet of Ministers proposes to establish a unified excise rate for all types of fuel – 100 euros per 1000 liters of gasoline, diesel fuel or liquefied gas. The government can additionally count on UAH 3.4 billion. per month.
At the same time, the government proposes to leave 7% VAT on fuel instead of 20%.
The funds collected from excise taxes will be used for roads, both for construction and repair, and for servicing debts of past years.
Before the war, excise rates were: gasoline – 213 euros / 1000 liters, diesel fuel – 139 euros, liquefied gas – 52 euros. In previous years, excises on petroleum products brought up to UAH 70 billion to the budget, VAT – another 0.45 billion euros, respectively.
The return of excise taxes on fuel in the amount of 100 euros per 1000 liters will add 4-4.5 UAH / liter to the price. However, retail prices may not rise due to lower international fuel prices and traders’ margins.
According to the calculations of the director of the consulting group A-95 Sergey Kuyun, after the entry into force of the law, the excise tax on all brands of fuel in hryvnia will be 4 UAH/l (including VAT). This is 8% of the retail price of gasoline and diesel fuel and just over 10% of the price of autogas.
However, according to the expert, there will be no increase in the price of gasoline and diesel fuel, because world prices have slumped significantly lately, which creates the potential for a price reduction in Ukraine by 3-4 UAH/l. Thus, the excise tax will block this decrease, as a result of which prices will stabilize at the current levels: gasoline A-95 – 50-52 UAH/l, diesel fuel – 51-53 UAH/l.
Source: Racurs
