Russia offers Belarus to compensate for the tax maneuver, said Babich

© RIA Novosti / Andrey to Alexandrapalace in fotobanka Russia and Belarus. Archival photoRussia offers Belarus to compensate for the tax maneuver, said Babich© RIA Novosti / Andrey to Alexandrapalace the image Bank

Russia offers Belarus to compensate costs arising from the implementation of the tax maneuver in the oil sector, «in the form of direct inter-budgetary relations», said on Friday Russia’s Ambassador in Minsk Mikhail Babich.

In October, Prime Minister of Belarus Sergei Rumas said that Minsk and Moscow have until the end of the year to determine the mechanism of compensation of losses of Belarus from realization in the RF of the tax maneuver and to present it for consideration by the presidents of the two countries. According to Rumas, the Russian side suggested that it was the inter-budget transfers, Belarusian considers to be more correct fixing of the compensation in the price of the resulting oil.

«We believe that it will be in the form of direct inter-budgetary relations, and the logic that will continue to evolve in that aspect,» said Babich reporters.

According to him, Minsk need to understand what amount of compensation and in what time frame will be sent to the Belarusian budget. «The Russian budget is also need to understand …the set and the amount of support that can be provided within the framework of our overall economic problems,» the Ambassador noted. Babich added that the issue of compensation for the 2019 need to be solved before the end of 2018. «As for the other periods, there are active consultations between the Ministry of Finance, ministries of energy (of the two countries — ed.)», — said the diplomat.

On Thursday the Ambassador of Belarus to Russia Vladimir Semashko said that the Deputy Prime Minister agreed with Deputy Prime Minister Dmitry Kozak by December 15 to settle the issue of compensation for Minsk in connection with the implementation in the Russian oil industry tax maneuver. Previously Deputy Chairman of the Belarusian state concern Belneftekhim Vladimir Sizov said that the tax maneuver in the oil industry of the Russian Federation may lead to an annual increase in the cost of oil to Belarus, under current world prices, more than $ 20 per ton.

In Russia in the years 2019-2024 of the planned implementation of so-called tax maneuver, which involved a gradual zeroing of export duties on oil and increase tax rates. According to the Finance Ministry of Belarus, the loss of its budget in 2019 will be $ 300 million. Additional costs in Belarus arise from the expected increase in oil prices from Russia and reduction of export duties on oil products.

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