Sechin calls to decrease oil taxes 1.5 times

The Rosneft’s President Igor Sechin has offered to reduce the burden on the oil industry from the current 55% to 35-45%, the Vedomosti reports, referring to the presentation of the largest Russian oil company.
 
The document states that the reduction of the tax burden will allow oil companies to start new projects, and due to this collections of taxes to the Russian budget will grow. Thus, according to the company’s experts, the reduction of the burden from 55 to 45% will enable to get additional three trillion rubles for the budget in 2014-2030, and the reduction to 35% (like for the gas industry) - six trillion.
 
According to the newspaper, the Rosneft’s initiatives are discussed in the Government. It wasn’t reported what kind of taxes are proposed to be reduced by the oil company.