Wednesday, December 25, 2013

NEW TAX RATE ON MINERALS WILL BE APPROVED BY THE END OF THE YEAR

NEW TAX RATE ON MINERALS WILL BE APPROVED BY THE END OF THE YEAR
NEW TAX RATE ON MINERALS WILL BE APPROVED BY THE END OF THE YEAR

Deputy Finance Minister Sergei Shatalov said that by December of this year, the Ministry of Finance and the Ministry of Energy agree on a new formula for the tax on the mining operations on the gas, RIA Novosti reported on November 5 `news`.

The new formula, according to the deputy minister, will take into account the dynamics of the export price and the complexity of the design of each particular field.

At the same time, as noted by Shatalov, the Finance Ministry is not going to pander to #39;Gazprom#39; in his quest for more tax breaks for new fields.

`They are asking for more and more, it#39;s true. While we see no reason #39;, - commented the deputy minister.

He however did not rule out at this, that the Finance Ministry will support the benefits of new fields in Eastern Siberia. For example, the list of stranded with a high degree of probability will be included Tyumen Oil Formation. However, even this field will not be exempt from tax completely - although Energy Minister Alexander Novak in October suggested that policy for at least the next 15 years.

`Yes, we support the Tyumen too, but there is another factor, another bid. This is not a zero will appear `- Shatalov said.

A number of companies, including such major players in the market of natural resources such as Gazprom `` and `` Rosneft, regularly try to obtain from the government to reduce tax rates on the development of new oil and gas fields. Rosneft `` it would be particularly by the way, since this year the company signed an agreement with ExxonMobil to jointly develop technologies for production of stranded oil in Western Siberia.