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Rada supports increase in excise duties for fuel and converting rates from euros to hryvnias from 2013

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Oct. 3, 2012, 11:28 a.m. | Business — by Interfax-Ukraine

The Ukrainian parliament has passed at first reading a draft law proposing the converting of excise duties for fuel and liquefied gas from euros into hryvnias and the simultaneous increase in the duties from January 1, 2013 by around 10%.
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The Ukrainian parliament has passed at first reading a draft law proposing the converting of excise duties for fuel and liquefied gas from euros into hryvnias and the simultaneous increase in the duties from January 1, 2013 by around 10%.

A total of 230 lawmakers on Tuesday supported draft law No. 10687 on amendments to the Tax Code of Ukraine.

According to the document, the excise duty rate for petrol will amount to Hr 2,243.24 per tonne, for diesel fuel with sulphur content of over 0.2% it will total Hr 1,110.29 per tonne, for diesel fuel with sulphur content of from 0.035% to 0.2% it will be Hr 849.71 per tonne, for diesel fuel with sulphur content of from 0.005% to 0.035% it will amount Hr 770.41 per tonne and for diesel fuel with sulphur content up to 0.005% it will stand at Hr 521.16 per tonne.

At present, the basic excise duty on petrol amounts to EUR 198 per tonne, on diesel fuel with sulphur content from 0.035% to 0.2% it totals EUR 75 per tonne, on diesel fuel with sulphur content from 0.005% to 0.035% is EUR 68 per tonne and on diesel fuel with sulphur content under 0.005% it is EUR 46 per tonne.

The excise duty for liquefied gas (propane or a mixture of propane and butane) will amount to Hr 498.50 per tonne with the present rate of EUR 44 per tonne.

The document, in particular, proposes to covert the duties for fuel to hryvnias, as consumer price indexes are calculated in the national currency.

Parliament also supported an increase in fees for the use of fields to extract deposits, and fees for the use of deposits for purposes not linked to extraction.

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