Serbia: Association of Oil Companies Wants the Government to Revise its Fuel Excise Policy

The Association of Oil Companies of Serbia (AOCS) has prepared several options regarding changing the fuel excise policy, in order to, as they say, primarily reduce the burden on businesses, but also use the available potential to increase fuel turnover.

Serbia’s policy of excise taxation of energy has long been due for review, the AOCS says, who has recently presented its proposals to the Ministry of Finance.

“We do not look at the whole thing one-sidedly, so we will propose changes that will contribute to the growth of budget revenues in the mid- and long-term,” says AOCS Secretary-General. Tomislav Micovic, for the Balkan Energy website.

With the increase in the price of oil and oil derivatives at petrol stations, individuals, but also the entire economy, face an increased cost of fuel.

In Serbia, 50% and more price of petroleum products are state taxes, excises and various other duties.

When asked where Serbia is now in terms of collecting excise duties on petroleum products when compared to others, Micovic said:

“It makes sense to compare ourselves with countries that have a comparable GDP per capita with Serbia and these are the countries in our immediate surroundings. When it comes to diesel, the fuel that drives the economy, we have the highest total duties of all the countries in the region. We are the first in Europe in terms of the amount of duties on liquefied petroleum gas. Only the duties on petrol are slightly below the European average and they are in a third place when compared to the countries in the region”.

(serbianmonitor.com / eKapija, 17.09.2021)

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