Belarus Abolishes Export Duties, Except for Oil and Oil Products
OREANDA-NEWS. On 27 March 2009 was announced, that Belarus abolishes export duties on all commodities except for oil and oil products in order to support domestic producers in conditions of the global economic crisis. President Alexander Lukashenko signed relevant ordinance #135.
The document comes into effect after the official publication. The export customs tariff adopted by ordinance #700 in late 2007 will be considered void.
The move is expected to support the country’s largest exporters. In January, Belarus’ exports fell almost 50% on the year, which required emergency measures, an official close to the government told.
“Export duties were not as significant for the budget as import duties, while remaining a serious burden on domestic makers, so the duties were cancelled, except for those imposed on export of crude oil and oil products, which depend on interstate agreements with Russia,” the official said.
Belarus is expected to set crude oil export duty at U.S. USD 110 per tonne, and light oil product export duty at USD 86.4 per tonne, starting April 1, 2009.
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