Official: Russian Fin Min opposes flexible engine fuel excises

MOSCOW, Oct 6 (PRIME) -- The Russian Finance Ministry does not support a proposal by the Federal Antimonopoly Service to introduce a floating excise on engine fuel depending on global oil prices, Deputy Minister Ilya Trunin told reporters on Thursday.

The official said that fuel excises are a source of replenishment of road funds. “This means that we will need to introduce floating transfers at the same time with a floating excise, or some other source which will be in counter-phase and will arrive to the budgets of regions in order to ensure fulfillment of long-term contracts. I do not see clearly how to fulfill this now,” Trunin said.

The Federal Antimonopoly Service earlier offered to introduce a system of flexible excise duties on fuel, which can be revised every month, to stabilize the tax policy in the energy industry.

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