Testing of an excess-profits tax in oil sector is to last 3-5 years

The testing of an excess-profits tax at pilot projects on the production of hydrocarbons is to last 3-5 years, in order special-purpose establishments could assess an economic efficiency of the system to implement it in the sector. The head of the Russian Energy Ministry’s oil and gas production and transportation department A.Gladkov said.

“About three-five years is necessary to test the projects and see the way the system functions,” Gladkov said in an interview to RIA Novosti. 

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