Russian ministry of Finance proposes new tax for oil industry
Edited by Rhod Mackenzie / 2016-07-07 12:14:41
The Russian Ministry of Finance’s experts have suggested to introduce a tax on income from oil sales for Russian companies.
The amount of the tax will be 50% of the total amount of the income, received after deduction of the cost of production and transportation of hydrocarbons. At the same time, the Ministry proposed to introduce a maximum limit for the collection of the tax from one ton of sold oil: the maximum allowable amount won’t exceed the level of 9520 rubles, the Vedomosti reports, citing a source in the Finance Ministry.