Export tax on oil will increase by a quarter in August, the tax on liquefied gas will remain unchanged

Export tax on LPG (liquified petroleum gas) will remain equal to zero in August. According to the calculations of the Ministry of Finance, the rate of tax on SR naphta will increase by a quarter. 

The tax on LPG will remain unchanged in the following month. In accordance with the calculation formula, the tax is accrued when the LPG price exceeds $490 per ton. 

Naphta tax rate will increase from $20.7 to $25.7 per ton from the following month. In June, SR naphta was shipped with a tax payment equal to $4.5, in May - $3.7 per ton, which is the lowest level in recent years. 

The tax on light petroleum products will increase to $14 per ton in the following month (current tax - 11.2$ per ton). The tax on export of commercial gasoline will also amount to $14 per ton. 

The tax on heavy petroleum products will increase to $46.9 per ton. The tax on coke will increase from $2.4 to $3 per ton. 

Oil supply to external markets will be performed with the tax rate of $46.9 per ton, while the amount of tax today is $37.8 per ton. It should be noted that in June oil exporters paid tax equal to $8.3 per ton. According to the Ministry of Finance, the average price of Russian oil exported from the Urals in the period from June 15 to July 14, 2020 amounted to $43.82 per barrel. 

Discounted tax rates applied to oil from a number of deposits in Eastern Siberia, Caspian deposits, and the Prirazlomnoye field will remain equal to zero after February 1, 2015 due to the new calculation formula accepted within the framework of tax manoeuvre in the oil industry.