Excise tax on fuel in 2020 will not be collected from hromadas: Verkhovna Rada adopts amendments to the Budget Code

On 14 November, the Verkhovna Rada of Ukraine adopted as a whole the draft law “On Amendments to the Budget Code of Ukraine” No 2144 dated 16 September 2019.

Pursuant to this draft law, in 2020 the practice of inflow of 13.44% of revenues from excise tax on fuel to local budgets will continue. The total projected amount of funds that hromadas will receive will be UAH 7.7 billion, the Association of Ukrainian Cities reported.

It should be mentioned that a few years ago the excise tax on fuel began to enter budgets of hromadas. Local excise tax on fuel is not only a tool to struggle against shadowing in the fuel sector (which used to be 30% before its introduction), but also hromada income source for the implementation of social projects – construction of new schools and kindergartens, repair of roads, bridges, streets etc.

This resource is very important for local self-government, since it is the fuel excise tax that contributes up to 50% of revenues to local budgets.

 

 

 

14.11.2019 - 14:50 | Views: 4668
Excise tax on fuel in 2020 will not be collected from hromadas: Verkhovna Rada adopts amendments to the Budget Code

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budget excise tax

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Асоціація міст України

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