President Zelensky signs law raising excise duties on fuel

The relevant statement was made by Member of Parliament Yaroslav Zhelezniak (from the parliamentary faction ‘Holos’) on Telegram, an Ukrinform correspondent reports.

“The President [of Ukraine – Ed.] has signed [Bill] No. 11256-2 on the increase in excise duties. It enters into force on September 1, 2024, and will come into effect upon publication in the official bulletin, i.e. today or tomorrow,” Zhelezniak wrote.

A reminder that, on July 18, 2024, the Verkhovna Rada of Ukraine adopted as a whole draft bill No. 11256-2 on making amendments to the Tax Code of Ukraine regarding the implementation of the provisions of the EU law on the excise tax.

The document provides for a gradual rise in the excise duties on different fuels before January 1, 2028. The transition period will start from September 1, 2024.

Eventually, prices will increase to EUR 359 per 1,000 liters for gasoline, EUR 330 per 1,000 liters for diesel fuel, and EUR 250 per 1,000 liters for liquefied gas.

Photo: Office of the President of Ukraine