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The Implications of tax maneuver: production of oil and petrochemicals

Author

Listed:
  • Knobel Alexander

    (Gaidar Institute for Economic Policy)

  • Firanchuk Alexander

    (Gaidar Institute for Economic Policy)

  • Kaukin Andrey

    (Gaidar Institute for Economic Policy)

Abstract

A tax maneuver in the oil and oil refining industries contributed to some changes in the pattern of production of petrochemicals: the total volume of oil refining decreased, while the volume of production of motor gasoline increased somewhat. It is to be noted that the tax maneuver had an effect on the pattern of exports of petrochemicals, too: with duties increased on residual oil its exports fell dramatically, while with export duties reduced on commercial gasoline, directly distilled gasoline and light and medium distillates their exports increased. Reduction of export duties on diesel fuel brought about growth in its share in the total exports of petrochemicals.

Suggested Citation

  • Knobel Alexander & Firanchuk Alexander & Kaukin Andrey, 2016. "The Implications of tax maneuver: production of oil and petrochemicals," Russian Economic Development, Gaidar Institute for Economic Policy, issue 12, pages 28-32, December.
    • Handle: RePEc:gai:recdev:recdev-2016-12-802
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    File URL: https://iep.ru/files/RePEc/gai/recdev/recdev-2016-12-802.pdf
    File Function: Revised version, 2016
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    More about this item

    Keywords

    Tax; Budget; Russian Economy;
    All these keywords.

    JEL classification:

    • P24 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - National Income, Product, and Expenditure; Money; Inflation
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

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