SIZE OF EXCISE TAX ON PETROLEUM PRODUCTS CHANGED

Ulaanbaatar, Mongolia, /MONTSAME/ The Wednesday cabinet meeting made a decision to decline an excise tax imposed on "A-80" auto fuel which is imported through border checkpoints Sukhbaatar, Zamiin-Uud, Ereentsav and Altanbulag.
The excise tax on this auto fuel has been decreased to MNT 150 thousand from MNT 220 thousand per ton. The excise tax imposed on "AI-92" and diesel fuel has not been changed. This decision will be in effective from August 18, 2010. A size of the excise tax on auto fuel and diesel fuel that are imported through remote border checkpoints will not increase.
The cabinet discussed a draft resolution on selling oil products submitted by the Ministry of Mineral Resources and Energy. It was thought as necessary to consider taxes on the border prices of petroleum products for August and to sell them at warehouse prices because Russia's "Rosneft" company has increased the price of petroleum products exported to Mongolia. Border price of petroleum products was USD 690 in January of 2010 and increased up to USD 848 by August.
As the Ministry of Mineral Resources and Energy considers, a time has come to sell out a fuel reserved with capital of the National Development Strategy. After discussing these matters, the cabinet decided to issue a resolution reflecting proposals from Ministers.
In conjunction with beginning of the winter preparation and autumn haymaking, the cabinet considered as necessary not to increase tax imposed on diesel fuel.
B.Khuder