The European Business Association (EBA) is concerned about the situation with the introduction of a new procedure for electronic administration of fuel sales scheduled for July 1, 2019, according to an association press release.
According to the new mechanism, all legal entities storing fuel in excess of 200 cubic meters and receiving during the calendar year resources in the amount exceeding 1,000 cubic meters, as well as individual entrepreneurs (taxpayers of the fourth group), receiving annually more than 10,000 cubic meters of fuel, must register as excise taxpayers, obtain the appropriate licenses and from July 1, 2019 carry out daily electronic fuel accounting, submitting reports on its balance to the State Tax Service. Among such business, entities are airports, energy and metallurgy enterprises, as well as national companies specializing in transportation.
The introduction of the new order requires enterprises to purchase expensive equipment and in some cases stop the production process. At the same time, additional investments were not taken into account in the financial plans of the enterprises for 2019 and not considered when approving tariffs for some of them. The companies will suffer additional costs due to hiring more personnel who must carry out daily accounting, the association said.
