Government to ensure crediting part of fuel excise tax to local budgets - Shmyhal

Government to ensure crediting part of fuel excise tax to local budgets - Shmyhal

Ukrinform
The Cabinet of Ministers of Ukraine will approve the procedure for crediting part of fuel excise tax (13.44%) to the budgets of local communities, Prime Minister Denys Shmyhal has said.

"To increase the total fund of local budgets, which creates additional resources for regional development, we have another tool - the government will approve the procedure for crediting part of the excise tax on fuel, which is produced in Ukraine or imported into Ukraine, to local government budgets... This is additional UAH 1.2 billion for local authorities to improve roads, educational institutions, healthcare,” Shmyhal said at a meeting of the Cabinet of Ministers, an Ukrinform correspondent reported.

He added that the funds accumulated for the first two and a half months of this year should be distributed to local budgets within two weeks from the date of entry into force of the relevant government’s resolution. According to Shmyhal, 13.44% of fuel excise tax will automatically come to the budgets based on the volume of fuel sold in the relevant territory.

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