On 1 March 2012 Belarus raises export duties on oil and oil products. The relevant decision is envisaged in government resolution No.184 of 27 February 2012, BelTA learned from the press service of the Belarusian government.

On 1 March the oil export duty will go up from $393.7 to $411.2 per tonne. Starting from 1 March the uniform rate of export duty on light and dark oil products (apart from petrol), which since 1 October has been unified at the level of 66% of the duties on oil, will be $271.4 per tonne as against $259.8 in February 2012. The same duty is imposed on benzene, toluene, xylenes. The coefficient of 0.9 is applied to the export duties on commodity and directly distilled petrol. Thus they will equal $370.1 per tonne as against $354.3 in February. Duty on propane, butane, ethylene, propylene, butylene and butadiene, other liquefied gases is set at $157.3 instead of $181.7.

The resolution amended Resolution No.1932 of the Council of Ministers of 31 December 2010 “On setting export duties on crude oil and some oil products and on abolishing some resolutions of the Council of Ministers of the Republic of Belarus.” The document was adopted in accordance with Decree No. 716 of 31 December 2010 “On the rates of export customs duties.”

Starting from 1 October 2011 Belarus, following Russia, has been calculating export duties on oil and oil products using the formula “60/66”. The formula is applied to the products exported outside the customs territory of the Customs Union. The formula implies that the rates of export duty on light and dark oil products have been harmonized and are calculated using the coefficient 0.66 (66%) of the oil duty. The duty on petrol is calculated using the coefficient 0.90 (90%).

Belta