News
02.03.2016
Raising of excise duties on fuel will lead to additional costs for farmers
UCAB experts have calculated that the increase of excise duties on fuel in 2016 will lead to additional costs for farmers at the level of 645 mln UAH.
Since January 1, 2016, the excise duties on diesel fuel have increased in different proportions depending on its type from 100 €/t up to 113 €/t and from 132 €/t up to 149 €/t that will cause additional costs on 645 mln UAH. Such growth is almost twice higher than the whole real state support planned for agricultural sector, because the State budget 2016 foresees only 300 mln UAH for easing of credits for agricultural enterprises and 50 mln UAH in support of the livestock industry. In terms of strengthening the fiscal pressure on the industry in the part of VAT, the new raising of single tax rates for 4-th group – these will cause additional erosion of working capital at agricultural enterprises, growth of the cost of production and logistics costs.
