Budget, Energy Market, Estonia, Markets and Companies, Taxation, Transport

International Internet Magazine. Baltic States news & analytics Tuesday, 23.04.2024, 08:43

Fuel excise duty receipts are growing in Estonia

BC, Tallinn, 24.08.2016.Print version
Although fuel company Olerex said on Tuesday that due to the fuel excise duty rise the Estonian state will lose up to 35 million euros in taxes, according to the Ministry of Finance fuel excise duty receipts rose nearly 15% on year in the first seven months of the year and are to total 481 million euros at the end of the year, reports LETA/BNS.

"Fuel excise duty receipts are increasing which is shown by data. Excise duty receipts increased 14.4 % on year in the first seven months of the year," told spokesperson for the ministry Maria Murakas.

 

According to the ministry transport companies tanked in neighboring countries already before the excise duty rise. "Tanking in Latvia has had a marginal impact on our receipts," Murakas said, adding that at the beginning of September the ministry will get the results of the first six months' receipts.

 

In the first six months of the year fuel excise duty receipts totaled 238.7 mln euros.

A member of the board of Olerex, Alan Vaht, said on Tuesday that as a result of people and companies storing fuel, the state has lost 42 mln euros of fuel excise duty receipts and 17 mln euros of VAT from March to July.

 






Search site