28 Sep 2022 14:36

Zelensky signs into law bill reinstating excise taxes on engine fuel in Ukraine

MOSCOW. Sept 28 (Interfax) - Ukrainian President Volodymyr Zelensky has signed into law a bill to reinstate excise taxes on engine fuel, Ukrainian media said on Wednesday.

The legislation was submitted to the president for signing on September 26 and was returned already signed on September 28, according to information on the Verkhovna Rada website.

The Ukrainian parliament abolished excise taxes on fuel oil in the country in March 2022 due to growing fuel shortages.

On September 21, the Verkhovna Rada passed legislation reinstating excise taxes on engine fuel. The decision was supported by 255 MPs. Thus, excise taxes will be reinstated in the amount of 100 euros per 1,000 liters for gasoline and diesel, 52 euros per 1,000 liters of liquefied gas, butane and iso-butane, and 100 euros per 1,000 liters of alternative fuel and biofuel. VAT for all types of fuel remains at 7%.

According to MP Yaroslav Zheleznyak, since the law will enter into force a day after its publication, excise taxes are expected to be reinstated in late September.