Lower VAT and Excise Duty on Fuels: Gasoline, Diesel, Biofuels, and Gas
The draft law introduces temporary reductions in VAT and excise duty on fuels such as gasoline, diesel, biocomponents, and engine gas. The aim is to lower fuel prices for drivers and businesses, which should help combat inflation and support the economy. The changes will be in effect from August 1, 2024, to March 31, 2025.
Key points
Reduced VAT on fuels: The VAT rate on gasoline, diesel, biocomponents, and engine gas will be lowered to 8% from August 1, 2024, to March 31, 2025.
Lower excise duty on fuels: During the same period, excise duty rates on these types of fuels will also be reduced.
No retail sales tax on fuels: Retail sales of fuels will be exempt from retail sales tax during the period the changes are in effect.
Information for consumers: Fuel stations will be required to inform customers about the reduced VAT rate on fuels.
Status:
In Progress
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