14:52 GMT +308 December 2016
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    MINERALS PRODUCTION TAX MIGHT BE INCREASED

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    MOSCOW, February 12 (RIA Novosti correspondent Alevtina Shchepetina) - The Russian energy ministry proposes that the tax on production of natural resources for oil companies working the best deposits be increased. The government will consider a relevant draft federal law on February 26, an energy ministry source said Thursday.

    "The talk is about the introduction of a differentiated tax on minerals production," he said.

    According to a letter of the head of Rosneft (the company that initiated the above mentioned tax increase), Sergei Bogdanchikov to the Russian presidential administration, "the introduction of a differentiated tax on minerals production will make it possible to additionally involve in the working the hard-to-extract reserves, will create equal conditions for all oil and gas companies and will allow the state to withdraw companies' superprofits." "By expert estimates, with the current rate of the unified minerals production tax, the country annually receives $5-8 billion less of the rent income," reads the Rosneft letter.

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