The Verkhovna Rada of Ukraine has completed consideration of draft law No. 11256-2, which provides for an increase in excise tax on motor fuel. MP Yaroslav Zheleznyak reported that since all blocking resolutions on this draft law were not adopted at the parliamentary session today, the document will soon be signed by the Chairman of the Verkhovna Rada Ruslan Stefanchuk and the President of Ukraine Volodymyr Zelensky. The law will come into force on September 1, 2024.
According to the adopted document, excise rates on fuel will gradually increase from July 1, 2024 to January 1, 2028. The draft law provides for the following changes:
- Excise duty on gasoline:
- July 2024: EUR242.6 per 1 thousand liters
- July 2025: EUR271.7
- July 2026: EUR300.8
- July 2027: EUR329.9
- July 2028: EUR359
- Excise duty on diesel fuel:
- July 2024: EUR177.6 per 1 thousand liters
- July 2025: EUR215.7
- July 2026: EUR253.8
- July 2027: EUR291.9
- July 2028: EUR330
- Excise duty on liquefied gas (propane or a mixture of propane and butane, LPG):
- July 2024: EUR55.6 per 1 thousand liters
- July 2025: EUR59.2
- July 2026: EUR62.8
- July 2027: EUR66.4
- July 2028: EUR70
Bill No. 11256-2 introduces a phased increase in excise duties, which aims to adapt tax policy to economic conditions and the needs of the state budget. After being signed by the President and the Speaker of Parliament, the new excise tax rates will come into effect on September 1, 2024.
