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Evaluating the Impact of Russian Excise Duty on Oil Products on the Development of Oil Refining and Oil Industry

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  • Vadim Ponkratov
  • Andrey Pozdnyaev
  • Nikolay Kuznetsov

Abstract

The article analyzes the impact of excise duty on oil products in increasing the oil refining depth in Russia. A retrospective analysis of changes in the excisable goods types and the excise duty on oil products rate dynamics from 2001 to 2020 was carried out, which allowed for evaluation of the dominant state fiscal interests or economic incentives for the oil refining development through excise taxation in the different periods of the newest economic history of Russia. The Russian oil refining excise taxation has undergone the most robust transformation three times - in 2007, 2014 and 2016. Moreover, in each case, the prerequisites for radical changes were different: in 2007, the fight against aggressive tax optimization and stimulation of technical re-equipment of refineries; in 2014, a massive tax maneuver in oil production; in 2016, fine-tuning of the excise taxation based on the results tax maneuver and the need to adapt to Russia's membership in the WTO and integration formations. The analysis showed that often the stated goals of stimulating the development of the oil refining and petrochemical industries were devalued by the dominant state fiscal interests as a result of changes in the economic situation.

Suggested Citation

  • Vadim Ponkratov & Andrey Pozdnyaev & Nikolay Kuznetsov, 2018. "Evaluating the Impact of Russian Excise Duty on Oil Products on the Development of Oil Refining and Oil Industry," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 414-425.
    • Handle: RePEc:ers:journl:v:xxi:y:2018:i:4:p:414-425
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    More about this item

    Keywords

    Excise duty on oil products; increasing the oil refining depth; tax incentives; environmental classes of motor fuels.;
    All these keywords.

    JEL classification:

    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • H21 - Public Economics - - Taxation, Subsidies, and Revenue - - - Efficiency; Optimal Taxation
    • H32 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Firm

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