MPs to consider a draft law that would classify oil and gas condensate as zero-rated excisable goods
Kyiv • UNN
The draft law plans to classify oil, oil products, and gas condensate as excisable goods with a zero excise tax rate, and to include some solvents as excisable goods with a rate of 245 euros per 1000 liters.
In the coming days, the Verkhovna Rada plans to consider in the first reading the draft law "On Amendments to the Tax Code of Ukraine and Other Laws of Ukraine on the Introduction of a System of Control over the Turnover of Oil, Gas Condensate and Solvents", which plans to include oil and oil products, as well as natural gas condensate, as excisable goods with a zero excise tax rate. This was reported by UNN with reference to the agenda of the Verkhovna Rada meeting.
Details
According to the draft law, oil and oil products, as well as natural gas condensate, will be classified as excisable goods with a zero excise tax rate. It is also planned to include certain solvents with a rate of EUR 245 per 1000 liters and the possibility of using tax bills.
Addendum
The draft law was introduced on 06.11.2023.
It was previously reported by MP Yaroslav Zheleznyak.
The draft law is difficult to implement, so it took almost 3 months to work on it. I hope it will be faster in the future
The main innovations in the draft law are:
1. Classification of oil and gas condensate as excisable goods with a zero excise rate.
2. Expanding the list of solvents that are classified as excisable goods and the instrument of bills for them.
3. Improvement of the fuel tracking system.The purpose of this draft law is to combat illegal fuel trafficking and "black" low-quality fuel.
Recall
The government has approved a draft law to gradually increase excise tax rates on fuel and alcoholic beverages to EU minimum levels, with expected additional revenues of UAH 1.6 billion per month from fuel sales and UAH 4.5 million per month from intermediate products in 2024, aimed at supporting the country's security and defense sector.
