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Russia’s government to consider two-stage hike of fuel excise duties in 2018

September 18, 11:05 UTC+3

The funds will be allocated on the expansion of the road network, primarily in Crimea and Kaliningrad and across the Russian Federation, the finance minister said

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MOSCOW, September 18. /TASS/. Russia’s government will consider the Finance Ministry’s proposal to raise excise duties on fuel by 50 kopecks starting January 1 and July 1, 2018 later on Monday, Finance Minister Anton Siluanov told journalists.

"Indeed, such proposals have been prepared. The funds will be allocated on the expansion of the road network, primarily in Crimea and Kaliningrad and across the Russian Federation. (They) will be considered at the government (meeting) today," he said when asked whether excise duties on fuel may be increased by 50 kopecks starting January 1 and July 1, 2018.

New regulations on distribution of revenues from mineral oil excise taxes came into effect starting June 1, 2016.

Amendments to the Tax Code changing excise duties on fuel were passed in end-2016.

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