As well as increasing the extraction tax and lowering most export duties
, the three-year plan will also cut gasoline excises to prevent jumps in domestic prices.
MOSKOVA (CyHAN)- Russia will cancel oil export duties
to Belarus if Minsk removes all tariffs to conform to the requirements of the Moscow-led Customs Union, Russian Deputy Prime Minister Igor Shuvalov said Friday.
However, the GCC suspended talks at the end of 2008 following disagreements about clauses addressing export duties
and human rights.
The Kuwaiti official clarified that the Europeans are asking the GCC to put certain limits on the regulation for export duties
and not let it be open.
Upon its accession to the WTO, China undertook to eliminate all export duties
, except for a number of products listed in an Annex to its Protocol of Accession," WTO said in its report.
The WTO's trade judges said China illegally imposed a system of export duties
and quotas on raw materials used in the production of steel, electronic goods and medicines, in a ruling expected to be challenged by Beijing.
But he flatly ruled out further government regulation of the market and hinted of stiffer export duties
on gasoline exports in the months to come.
In this regard, experts believe that the introduction of export duties
will result in a significant reduction of their revenues (up 10% and more) upon condition of maintaining the same levels of production.
Producers in other regions, such as LUKoil which had no output streams in East Siberia and did not envoy such tax breaks, lobbied Putin's office strongly for a lowering of export duties
for their ventures.
Mr Ilya Trunin head of tax and customs at the Russian Finance Ministry as saying that Russia may introduce a new scale of nickel export duties
in 2011 or earlier.
China will abolish export duties
on some grains and industrial products and cut the duties for chemical fertilizers and nonferrous metals from July 1 to promote exports, the Ministry of Finance said in a statement on Monday.
She revealed that human rights issues and export duties
were the two major issues proving to be sticky but feels "our GCC friends should also show little more flexibility.