SUBSCRIBER NOTE: Platts decides not to publish Russian jet fuel excise tax

Following its note issued on January 2, 2015, to keep the proposed publication of a jet fuel excise tax for Russia under review, Platts has decided not to publish or include a jet excise tax in its Russian netbacks.

On September 15, 2014, Platts initially proposed to start publishing a jet fuel excise tax for Russia with effect from January 2. This followed a review of Russia's tax code and an introduction of an excise duty on jet from 2015.

Unlike the other excise duties, which are taxed at the refinery gate, the jet excise duty is only applicable to airlines included in the commercial aviation register of the Russian Federation, to whom it is subsequently refunded. Due to this restricted scope of application, Platts will not publish the duty nor will it reflect the tax in the calculation of its jet fuel Russian netback.

Platts invites further feedback and comments to europe_products@platts.com and pricegroup@platts.com.

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