Russia has missed $ 2.4 billion because of duty-free oil supplies to Belarus

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Россия недосчиталась 2,4 млрд долларов из-за беспошлинных поставок нефти в Беларусь

In 2017, Russia’s budget has lost 140 billion rubles due to duty-free oil supplies to Belarus. This was reported by “Vedomosti” Director of the Department of tax and customs policy of the Ministry of Finance of the RF Alexey Sazanov.

The Finance Ministry has estimated the damage to the budget from the delay in oil tax maneuver 1 trillion Russian rubles.

Now the Russian oil refining is actually subsidized by the budget: the loss of him brings customs subsidy in favor of oil refineries (refinery). The subsidy arises due to the fact that export duties on petroleum products below the duties on crude oil.

According to Sazanova, the bulk of the subsidy falls on the refinery, which received 600 billion rubles, and another 140 billion budget lost shipments to Belarus, which receives oil at Russian domestic prices without duties, and 300 billion roubles — from the containment of prices in the domestic market.

In 2018, the losses will to rise to 700 billion roubles for subsidies to refineries, estimated earlier analysts Vygon Consulting, subsidy increases with the recovery in oil prices.

The Finance Ministry has proposed to fully reset the duties on crude oil and petroleum products, which compensates the increase of the tax on mineral extraction (met). The increase in tax rates will increase the cost of oil.

Russian oil companies and the energy Ministry do not share the desire of the Ministry of Finance to complete the tax maneuver as soon as possible.

As previously reported, a possible implementation of tax reforms in Russia can significantly reduce the profitability of refining in Belarus.

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