OREANDA-NEWS. December 30, 2011.  On 1 January 2012 Belarus will reduce export duties on oil and oil products. The relevant decision is envisaged in government resolution No. 1756 of 28 December 2012.

On 1 January the crude oil export duty will be reduced from USD 406.6 to USD 397.5 per tonne. On 1 January the uniform rate of export duty on light and dark oil products (apart from petrol), which since 1 October has been unified at the level of 66% of the duties on oil, will make up USD 262.3 per tonne as against USD 268.3 in December. The same duty will be imposed on benzene, toluene, xylenes. The coefficient of 0.9 will be applied to the export duties on commodity and directly distilled petrol. Thus they will equal USD 357.7 per tonne as against USD 365.9 in December. Duty on propane, butane, ethylene, propylene, butylene and butadiene, other liquefied gases is set at USD 201 instead of USD 221.8.

The resolution amended Resolution No. 1932 of the Council of Ministers of 31 December 2010 “On setting export duties on crude oil and some oil products and on abolishing some resolutions of the Council of Ministers of the Republic of Belarus.” The document was adopted in accordance with Decree No. 716 of 31 December 2010 “On the rates of export customs duties.”

Starting from 1 October this year Belarus, following Russia, has been calculating export duties on oil and oil products using the formula “60/66”. The formula is applied to the products exported outside the customs territory of the Customs Union. The formula implies that the rates of export duty on light and dark oil products have been harmonized and are calculated using the coefficient 0.66 (66%) of the oil duty. The duty on petrol is calculated using the coefficient 0.90 (90%).