The export duty
decrease is included in the draft state budget and as soon as the legislators approve it, the new tariffs will come into force.
Recently, representatives from The Associated Chambers of Commerce and Industry of India (ASSOCHAM) had met the Minister for Commerce and Industry, Nirmala Sitharaman, and submitted a memorandum suggesting the new regime to impose 30 per cent export duty
on iron ore pellets in interest of the domestic steel industry.
He said that a few days back one truck (120 bags of 100 kg onion each) was being sold for Rs 400,000 but following rumours that the federal government is imposing export duty
on onions, prices had dropped to Rs 300,000.
We see 4Q12 EBITDA falling 25% to RUB143bn primarily due to the negative effect of the export duty
The reforms will cut the marginal rate of crude oil export duty
, while increasing the duty on heavy fuel oil, making it uneconomic to process and export heavy fuel oil.
Russia is considering various export duty
levels for oil products in 2011 and may make a decision by mid-December, deputy finance minister Sergey Shatalov said, shrugging off reports the numbers had been finalised.
The country is likely to utilise a higher export duty
on refined products to compensate for declining revenue from the export duty
on crude oil delivered to neighbouring Belarus.
It says yarn prices are still increasing and is now demanding action on yarn, saying a "15% ad valorem export duty
should be imposed on cotton yarn, mills should be advised to maintain the same yarn price at least for three months, and only 10% of [India's] cotton yarn production should be exported." The federation represents the Tirupur Exporters' Association; the South India Hosiery Manufacturers' Association; and others.
To stimulate investments in East Siberia, Moscow in November 2009 applied zero export duty
for oil produced at 13 fields in East Siberia, including Rosneft's Vankor (see below), but gave no indication of how long the measure will last.
'An export duty
is to be imposed on all kinds of rice ...
Explaining the stumbling blocks, she said: "Some of the EU members are saying that we have to be very firm on our principles, one or two in the GCC think that they want to go for export duty
," she said, but refused to name the members on either side.
For example, the government introduced a crude oil export duty
of $109.91/ton from May 18, 2008.