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    MOSCOW, March 19, 2004. (RIA Novosti) - In the next 1-2 years, the differentiated tax rate for mineral resources' extraction will not be introduced in Russia, said Finance Minister Alexei Kudrin.

    We are still using a single tax rate in this area, he said to the president.

    Mr. Kudrin said that a transparent system would be created within 1-2 years for transferring to a new system of administering the tax for mineral resources' extraction.

    As for the tax rate for oil extracting companies, the minister said that the state could yield an additional $2 billion, given the rate is $27 per barrel.

    At the same time, he said the size of the rate should be brought in line with the world oil prices. If prices are higher, the rate can be higher as well, said the minister.

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