Ukraine will cancel excise duties on fuel and reduce VAT.

The Cabinet of Ministers introduced a bill in parliament revoking the excise tax on fuel and reducing the rate of value-added tax from 20% to 7%, announced Deputy Prime Minister of Economy Yulia Sviridenko. In addition, the government has changed the formula for calculating the maximum price of fuel at gas stations. The formula increased the price of logistics and a surcharge on quotations in Northestern Europe, which will include additional costs incurred after the reorientation of supplies from Belarus and Russia to the western border of Ukraine (Poland, Romania, Hungary). A similar tax decision has already been made in Poland, and other EU countries, said Sviridenko on FB.