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Talks on Russian oil industry taxation compensations for Belarus continue at all levels


Negotiations on compensating for Belarus' losses caused by adjustments of taxation of the oil industry in Russia (the so-called tax maneuver) continue at all levels. The sides have been unable to come up with concrete decisions so far, BelTA learned from Deputy Finance Minister Andrei Belkovets on 16 May.

The matter of compensations for the tax maneuver is raised all the time. “Discussions are in progress at all levels,” Andrei Belkovets noted. However, in his words, there are no results one can voice yet. “It is a matter, which has no definite decisions, agreements for now,” the official added.

While meeting with representatives of the general public and the expert community, representatives of Belarusian and foreign mass media in March 2019, Belarus President Aleksandr Lukashenko said that the tax maneuver would cost Belarus roughly $400 million this year. The head of state also pointed out that with the country's GDP in excess of $50 billion, the effect of the tax maneuver on the Belarusian economy is exaggerated.

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