Belarus, Russia to negotiate tax maneuver amends in Minsk on 9 October

A possibility to compensate Belarus for the losses it would incur because of Russia’s tax maneuver in the oil industry will be discussed at a session of the High-Level Group of the Council of Ministers of the Belarus-Russia Union State in Minsk on 9 October, Russia’s Deputy Economic Development Minister Aleksey Likhachev told reporters on 3 October, BelTA has learned.

The tax maneuver envisages a higher tax on mining operations and higher duties on heavy oil products and a simultaneous reduction in duties on oil and light oil products. As a result of this maneuver, Belarus’ oil refining industry might lose over $1 billion.

“This matter will be included in the agenda of the session of the High-Level Group of Belarus and Russia that will be held in Minsk on 9 October. We will discuss the consequences of this tax maneuver for the economies of Russia and Belarus,” Alexey Likhachev said.

The session will be conducted on the level of vice premiers. Russia will be represented by First Deputy Premier Igor Shuvalov.

According to Alexey Likhachev, the parties will also discuss the joint efforts to prevent the penetration of banned products to Russia.