Belarus introduces environmental tax on oil transit through its territory

On January 10, Alyaksandr Lukashenka signed a decree #9 “On Taxation,” BelTA informs.

It follows from the decree that the income tax rate of 50% is set for organizations involved in the transportation of oil and petroleum products.

According to the document, this is done “in order to form a source of funds for the elimination of possible environmental consequences in case of an accident on the main oil pipeline or other emergencies associated with the movement of oil and petroleum products in Belarus.

In addition, the taxable item subject to an environmental tax is transportation of oil and petroleum products through the territory of Belarus by main pipelines.

Joint stock company “Mozyr oil refinery” is seen near the town of Mozyr, Belarus January 4, 2020., Vasily Fedosenko / Reuters / Forum