The Ministry of Finance is going to introduce a graduate dmineral tax for hard-extractable oil from 2015

The Ministry of Finance is going to introduce mineral tax for hard-extractable oil from 2015 that can gain additional $1.4 billion to the budget with annual oil production of up to 12 million tons. The reserves are located in the Abalaksky, Domanik, Bazhenovsky and Khadumsky suits. The gradual enlargement in tax burden to hard-extractable reserves projects is discussed within the tax manoeuvre in oil sector. The Ministry of Energy asks for discounts for the companies.

The Government elaborates the separate parameters of the tax reform. Its scenario has been agreed by the President Putin and coordinated with Rosneft. They reported on Tuesday that the Ministries of Finances and of Energy have coordinated the new variant of the tax manoeuvre with a gradual enlargement in the mineral tax.