Excise Tax On Petrol & Diesel To Rise From October
- 22 Sep 2016 9:00 AM
The excise tax of petrol will rise by 5 forints per litre and that of diesel by 10 forints per litre from Oct. 1, in line with legislation passed in June linking excise tax on vehicle fuel to global energy prices. According to the June legislation if the average global price of Brent oil in a designated period is below 50 US dollars per barrel then excise tax of fuel rises.
Based on data gathered the National Tax and Customs Authority (NAV) the average price of Brent between July 1 and September 15 was at 45.551 dollars per barrel, leading to a raise in the excise tax.
From Oct. 1 the excise tax of unleaded petrol will be 125 forints per litre, that of unleaded diesel 120.35 forints per litre, that of leaded petrol 124.20 forints per litre and that of leaded gasoline 129.20 forints per litre.
Republished with permission of Hungary Matters, MTI’s daily newsletter.
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