Income-added tax to be introduced only for certain fields

The Government, including relevant Departments (excluding the Ministry of Finance), has supported introduction of income-added tax from 2015,the Head of the Energy Ministry, Alexander Novak stated.

In October, the Ministry of Energy will publish a list of projects, which will be pilot projects  within transfer to income-added tax. The essence of the innovation is proposal to lay a tax on not oil at the moment of its production, as now, but on the profit, accumulated during the whole period of the field's development. The tax rate must grow with the increase of raw material production and must decrease in the case of its reduction. In as much as the tax amount will be tied with costs, it’s planned to introduce the income-added tax only for relatively new fields, because it’s difficult to ground expenses for subsoil areas, developed from the Soviet time, with documents.

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