Additional taxes can’t be taken from mineral resources

The Russian Government hasn’t decided on the Finance Ministry's proposal to increase the severance tax for the oil industry. 1 trillion rubles, required to balance the budget-2016, can now be "smeared" across different industries. In addition to the oil industry, the extra money from which is now scheduled to be taken by adjusting export duties, gas and metals companies are also called as candidates for "de-kulakization", as well as the Central bank, which shares profit with the state. The authorities intend to decide whether they will be able to take a little more taxes from the economy being in a recession before making painful decisions on social expenditures of the treasury, which should take place in October.

The results of the meeting, held yesterday at the office of the Prime Minister Dmitry Medvedev, have been reported by his spokeswoman Natalya Timakova. It was decided not to touch the oil MET, and in exchange for it to consider "options of slower reduction in export duties on oil, as well as adjustments of some other sources". The Economic Development Minister Alexei Ulyukayev explained that now the authorities were going to discuss the possibility of worsening the fiscal burden on the gas industry, and talking about "other sources" we must first understand the profit of the Central Bank.