CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Belarus Does Deal With Russia On Oil Export Duty

Belarus Does Deal With Russia On Oil Export Duty

by Tatiana Smolenska, Tax- News.com, Moscow

05 June 2014


Russia has agreed that Belarus can retain USD1.5bn from export duty raised on oil products derived from Russian oil from 2015.

Currently, the full amount of USD3.5-4bn is transferred to the Russian budget, in return for the duty-free export from Russia of 147 million barrels of crude oil per year.

The deal was announced at a meeting in Astana, alongside the signing of a treaty to facilitate the creation of the Eurasian Economic Union from the start of 2015. It was also confirmed that Belarus will be supplied with oil to full capacity until the creation of a common oil market in 2025.

The oil protocols were signed on behalf of Belarus by Sergei Rumas, who is a member of the Board of the Eurasian Economic Commission. Ramus told journalists that the amount of export duty to be retained by Belarus may be reviewed upwards in 2016. Dmitry Kiyko, who is Belarus' Deputy Finance Minister, added that Belarus hopes that the transfer to Russia will eventually be phased out.

TAGS: Russia | tax | export duty | budget | oil and gas | ministry of finance | Belarus | revenue statistics

To see today's news, click here.

 






Close

Password Reminder

Please enter your email address to receive a password reminder.

 











Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »