Progress in Getting Russian Tax Maneuver Compensation for Belarus

Source: www.gulfoilandgas.com 8/9/2021, Location: Asia

Some progress has been secured in getting compensation for Belarus from changes in the taxation of the Russian oil industry also known as the tax maneuver. Belarus President Aleksandr Lukashenko made the statement during a meeting with representatives of the general public, experts, and mass media titled as the Big Conversation with the President on 9 August, BelTA has learned.

Aleksandr Lukashenko said: “The tax maneuver needs to be calculated and compensated if such a decision is made. But some progress has been made in that regard. We’ve fulfilled our commitments and made the first step. As large as about 50%. We don’t want some sum. We want our oil refineries to enjoy conditions equal to those of the Russian ones at least in this regard.” Only Belarusian enterprises that refine Russian oil are left at a disadvantage due to this tax maneuver.

BelTA reported earlier that support for Belarus due to the tax maneuver in Russia was discussed during the meeting of Belarus President Aleksandr Lukashenko and President of Russia Vladimir Putin in Sochi in July. The Belarus president’s press secretary Natalya Eismont said after the meeting: “A solution was found regarding the tax maneuver in Russia in the area of oil refining for the sake of compensating for Belarus' losses from this tax maneuver.”

In June Aleksandr Lukashenko stated that Belarus and Russia had come to an agreement in principle on minimizing losses of Belarusian oil refineries due to the tax maneuver in Russia as from 1 January 2022. The governments had been instructed to work out the final scheme.


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