Oil producers can save 1.3 trillion rubles on mineral tax
Edited by Rhod Mackenzie / 2013-07-05 12:44:33
Due to the mistake of the deputies, oil producers can make use of additional benefits and the budget can lose taxes. The potential losses are up to 1.3 trillion rubles, the Federal Taxation Service (FNS) reports.
Tax Code grants benefits to oil companies developing exhausted deposits. If over 80% of the site’s reserves has been extracted then mineral tax begins declining. The correcting coefficient is calculated under the special formula. The benefits grows simultaneously with exhaustion of the deposit, and the maximal benefit is 70% of mineral tax rate.
