Estonia backs permitting oil shale sector to use fiscally marked dieselChristian Fernsby ▼ | May 29, 2020
The Estonian government approved a draft legislation aimed to reduce the costs of oil shale mining companies by temporarily allowing them to use diesel fuel carrying a fiscal marker in mining operations, informs LETA/BNS.
Shale Estonia oil
Topics: Estonia oil
The measure will be valid from July 1 this year until June 30, 2022.
Under valid law, the rate of the fuel excise duty for diesel from May 1 this year to April 30, 2022 is 372 euros and the rate for diesel fuel carrying a fiscal marker 100 euros per 1,000 liters. From May 1, 2022, the rates will rise to 493 euros and 133 euros per 1,000 liters, respectively.
The are are currently three companies in Estonia that have been issued an oil shale mining permit: Enefit Kaevandused AS, VKG Kaevandused OU and Kivioli Keemiatoostuse OU.
The measure is estimated to cost the state budget approximately 8.5 million euros in foregone excise duty revenue in two years.
The amendment is to take effect from July 1. ■