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News // Economy

Russia to Pass Law on Equal Export Duites on Crude and Oil Products

01 August 2006 , 09:41592
Russia?s President Vladimir Putin sealed into law the bill eliminating the 20-day gap between introduction of export duties on crude oil and oil product, Kommersant reported. Now the bureaucrats hope to collect more money to the budget, while the oils won?t be able to optimize tax payments.

The new law sealed by the president Friday spells out simultaneous introduction of new export duties on crude oil and oil product.

At present, the duties on crude oil and oil product, including gasoline, diesel fuel, black oil, etc., are calculated in view of the Urals average price determined by two-month monitoring of the world crude markets.

But unlike duties on crude oil that take effect in ten days on promulgation of the government?s resolution, the duties on oil product come in force only in a month.

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