Saturday, June 27, 2015

Tax extract inaccessible oil – BBC

Prime Minister Dmitry Medvedev supported the introduction of a tax on financial result (NFR) in the oil sector for pilot projects. The relevant law will be adopted before 1 December 2015. Experts believe that the transition from the tax revenue to earnings give an impetus to development of hard oil, although it warned that the changes may lead to loss of budget revenue.

Medvedev approved the introduction of a tax on the financial result in the oil industry in pilot mode. On Friday said Deputy Prime Minister Arkady Dvorkovich on the results of the meeting the head of the government on this subject.

«The Prime Minister has decided to support the introduction of a tax for the pilot projects, the selection criteria are to be established in the law – said Dvorkovich. – One to two years the government will assess the results of the implementation of this system in pilot projects, and a further decision to be made on the basis of this assessment. ”

The Department of Energy “Gazeta.ru” said that the criteria for assessing the success will change in the level of oil production in selected fields and dynamics of budget revenues.

According to Dvorkovich, the majority of agencies believe that the introduction of the tax “will allow to increase production mainly at fields with a high degree of proficiency where today this production, increase recovery factor, it is not economically viable. ”

The Ministry of Natural Resources noted that in the structure of Russian hydrocarbon reserves growing share of hard (TRIZ) – today it has exceeded 60%.

They need to be involved in the development, as traditional stocks are exhausted. Russian oil TRIZ master, but it happens fast enough.

«If the tax is still impose, it will be a big step forward for the industry. Now the tax administration does not account for those costs to the company’s start-up, extraction, transportation. Because of this large reservoir reserves dropped out commercial development, because the company is not profitable to do. When NFR these undeveloped reserves will be developed “, – said the head of research firm Small Letters Vitaly Kryukov.

According to Dvorkovich, until the autumn of this year, experts “work out all the details related to the administration, the Ministry of Finance in order to minimize concerns about possible loss of budget revenue.”

«There is a risk that companies will inflate costs and artificially low profits. Accordingly, part of the budget revenue will fall “, – says Kryukov.

In the Energy Ministry insists that budget revenues will only grow due to increased production.

According to preliminary estimates of the Ministry of Energy, NFR testing at the Russian Energy Ministry approved the pilot project is already starting with the years 2016-2017 will increase the level of oil production. The expected average annual growth of oil production in the period of 2016-2031 years will be more than 5 million tonnes, or more than 90 million tons of oil for a specified period, which will provide a positive effect overall.

That is an additional comparison with the current system of taxation of gains in tax revenues for the period 2016-2031 years will be about 1 trillion rubles., Or about 70 billion rubles. on average per year.

Experts doubt that the bill will be passed in the current form. “Most likely to be modified for the calculation of costs, the rate” – is the hook.

The term of commencement of the tax in pilot mode, according to Dvorkovich, will be set in the law: “The later date the enactment – December 1 this year.”

«The decision is taken. We will perform, “- commented on the Ministry of Finance.

Other relevant materials on a daily basis to your e-mail:

MAKS-2015

Tickets for the special price of “Gazety.Ru»

LikeTweet

No comments:

Post a Comment