Relevant amendments to the Tax Code, including provisions for…
Relevant amendments to the Tax Code, including provisions for off-exchange fuel sales with features set by government regulation, have been introduced regarding excise duties - failure to comply with exchange regulations resulted in the zeroing of oil excise duty.
Consensus
- The Russian government is discussing changes to the normative for bourse sales of gasoline.
- The current temporary bourse sales quota for gasoline was reduced from 15% to 10%, effective from July to September.
- There is discussion about including direct deliveries by oil companies in the calculation of the bourse sales norm.
- A reduction of the bourse sales quota to 2% for gasoline is being considered.
- Changes are expected to be incorporated into Government Resolution No. 669.
Points of divergence
- Oil companies have proposed reducing the bourse sales quota from 10% to 2% and suggested distributing large bourse volumes among direct deliveries by vertically integrated oil companies (VINK). — kommersant
- The discussion includes including government-directed sales, such as those for agriculture, northern supply, and regional operators, in the bourse sales norm. — interfax
Coverage (2 sources)
- Normative for stock market gasoline sales may be credited with direct deliveries — Коммерсантъ
- Norms for fuel implementation on the Russian market may be reduced to 2% — Интерфакс