Tax manoeuvre is a deliberate attempt to speed up sale of oil reserves to the detriment of the country

The Ministry of Finance has published for public comment draft amendments to the Tax Code and the Law "On Customs Tariff". The main changes concern the rates of excise duties on fuel, tax on mineral extraction (MET), export duties on oil and oil products. The tax manoeuvre is extended for 3 years (2015-2017), it should be completed by the beginning of the formation of common markets for oil and oil products with Belarus and Kazakhstan in the framework of the Eurasian Economic Union. Now the duties on oil in Russia five times higher than in Kazakhstan, Belarusian duties are the same as our ones, but they wanted to go back to a low level. Russia met half-way to its partners. The main factor in the formula for calculating the duty on oil will fall two times in 2015-2017 from the current 59% to 30%, and the coefficient for gasoline - three times (also to 30%).