Amendments to tax legislation should not affect fuel prices – expert

Serhiy Kuyun, Director of Consulting Group A-95, said this in a comment to Ukrinform.

“I do not anticipate that this will have any impact on fuel prices. Unlike other clauses of the law, this (introduction of an advance payment for each filling station) is not a tax increase. It is an improvement in its administration,” Kuyun said.

He noted that according to official reports, 80% of retail fuel companies do not make a profit. At the same time, these companies are building new filling stations.

“The state has actually signed that it cannot collect income tax in the classical way,” the expert believes.

According to Kuyun, the current advance payment of UAH 60,000 is the lowest that could be made. “For many companies, nothing will change at all,” the expert believes.

As reported, on December 1, amendments to the tax legislation came into force, resulting in an increase in the rates of several taxes. An advance payment for filling stations is also being introduced.