Russian MinFin proposes reverse excise for toll refining oil abroad - sources

MOSCOW. Nov 7 (Interfax) - The Russian Finance Ministry is proposing amendments to the Tax Code that would usher in a reverse excise tax on the toll refining of oil outside Russia.

The amendments have been drafted for the second reading of the ministry's tax bill (No. 1026190-8), which is part of the budget package, a source familiar with the document told Interfax.

Only a company authorized by the government will be able to do this.

The sources said the purpose of the measure was, if the need arises, to refine Russian oil primarily at Belarusian refineries, which are underutilized.