The Russian Finance Ministry does not support a proposal by the Federal Antimonopoly Service to introduce a floating excise on engine fuel depending on global oil prices, Deputy Minister Ilya Trunin said.
The official said that fuel excises were a source of replenishment of road funds.
“This means that we will need to introduce floating transfers at the same time with a floating excise, or some other source which will be in counter-phase and will arrive to the budgets of regions in order to ensure fulfillment of long-term contracts. I do not see clearly how to fulfill this now”, Trunin said.
The Federal Antimonopoly Service earlier offered to introduce a system of flexible excise duties on fuel, which could be revised every month, to stabilize the tax policy in the energy industry. (Prime/Business World Magazine)