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Russia’s oil, gas extraction tax may rise - official

© RIA Novosti . Aleksey Nikolskyi / Go to the photo bankIlya Trunin attends meeting at Government House
Ilya Trunin attends meeting at Government House - Sputnik International
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Russia may increase taxes on natural gas and oil extraction, a Finance Ministry official said on Wednesday.

 

Russia may increase taxes on natural gas and oil extraction, a Finance Ministry official said on Wednesday.

Tax on gas extraction, currently at 147 rubles ($4.80) per thousand cubic meters, may increase 61 percent starting from 2011, six percent from 2012 and 5.4 percent starting from 2013, Ilya Trunin, head of the ministry’s tax and customs regulatory department, said.

"We think, and the relevant ministries agree with us, that starting from next year the rate for the extraction of natural gas could be increased by 61 percent," Trunin told journalists.

He added that the tax would be adjusted annually for inflation, which is expected at six percent in 2012 and 5.4 percent in 2013.

Trunin also said that oil extraction tax may rise 6.5 percent from 2012 and 5.4 percent from 2013.

 "We are talking about a mineral extraction tax on oil of 419 rubles per ton, which has not been revised for a long time. It will rise 6.5 percent from 2012 and 5.4 percent from 2013," Trunin said.

MOSCOW, July 21 (RIA Novosti)

 

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