Russian ministry of Finance proposes new tax for oil industry

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.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Oil and Gas, Metals and Mining, News from Russia and neighbouring countries
12 Northfields Prospect; London, - SW18 1PE; United Kingdom
E 51° 27.454518" S 0° 14.101236"

Theme by Danetsoft and Danang Probo Sayekti inspired by Maksimer