• Українською
  • Finance Ministry: In second half of 2020 about UAH 4 bn in excise tax on fuel will be directed to local budgets
    Ministry of Finance of Ukraine, posted 19 August 2020 15:18

    Today the Cabinet of Ministers adopted a resolution "On Amendments to the Procedure for Crediting Excise Tax on Fuel Produced in Ukraine and Imported into the Customs Territory of Ukraine into the General Fund of Local Government Budgets in 2020", thereby regulating the crediting of part of excise tax on fuel in the second half (H2) of the 2020 calendar year. Therefore, in H2 2020, about UAH 4 billion of excise tax on fuel will be directed to local budgets.

    As of August 19, 2020, the sum worth UAH 1.2 billion in excise tax on fuel has been accumulated on a separate balance sheet account of the Treasury to be further distributed among the budgets of local governments.

    The adopted decision will make it possible to automatically distribute a part of the 13.44% excise tax on fuel among the budgets of local self-government bodies on a daily basis.

    Shares are set for local budgets, according to which the excise tax will be credited to them in H2 2020.

    The size of such shares (according to the Budget Code) was determined according to the payment transaction recorders, based on the actual volumes of fuel sold by retailers in the relevant territory in H1 2020.

    In total, compared to H1 2020, the size of the respective shares will be increased for more than 1,000 local budgets.