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1 Jul 2020

Compensation for Belarus for Russian tax maneuver still on agenda

Compensation for Belarus for Russian tax maneuver still on agenda
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MOSCOW, 1 July (BelTA) – Belarus is unwilling to remove from the agenda the matter of compensation for the losses the Belarusian state budget has suffered due to adjustments of taxation of the Russian oil industry (the so-called tax maneuver). Ambassador Extraordinary and Plenipotentiary of Belarus to Russia Vladimir Semashko made the relevant statement during an online briefing held on 1 July in anticipation of Belarus’ Independence Day, BelTA has learned.

The ambassador said: “We don’t remove from the agenda the compensation for the costs the tax maneuver has incurred because it is having a painful effect on our economy.”

Vladimir Semashko remarked that the tax maneuver represents a serious violation of bilateral Belarusian-Russian agreements and agreements signed within the framework of the Eurasian Economic Union. The agreements do not allow for the introduction of internal customs duties or similar actions.

The diplomat also said that the protocol between the finance ministries of Belarus and Russia on the interbudget compensations for the premiums Belarus pays to Russian oil companies had been virtually reconciled. Previously the Belarusian side and the Russian companies managed to agree to reduce the premium from $11.7 to $4.7 per tonne of oil.

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