Monday, August 15, 2016

Work on the tax reform halted Russian oil – RBC

The development of the draft law on changes in the taxation of the oil industry has been suspended. This writes the newspaper “Vedomosti”, citing sources.

According to the companion publication, the Ministry of Finance and the Ministry of Energy planned to resolve all differences and begin to write the bill in August, but the case was delayed because of the expectations of the meeting in late July with Deputy Prime Minister Arkady Dvorkovich and his orders. As a result, the meeting was postponed until the autumn, and Deputy Prime Minister went on vacation from July 29 to August 15.

One of the federal officials told the publication that is now working on a bill to resume only in September, as the Finance Ministry does not can start it without formal instruction. Thus, the law came into force in 2017, it will have to prepare in a hurry. At the same time another official said that if the leadership has expressed a desire to appropriate, the law will be adopted in the short term. The official financial and economic bloc said that the Finance Ministry submitted to the government is not what was needed. In this regard, there was no point in a separate meeting, the source said.

According to the newspaper interlocutor, talk about the need to move away from working on the instructions make sense, since if there is some kind of order, the work immediately suspended .

Earlier, the Ministry of Finance and the Ministry of Energy agreed in general terms of the tax reform, which involves the abolition of privileges for oil fields. Under the new rules the tax on the added income (TAI) will be 50%, and instead of duty and mineral extraction tax will be charged only the mining tax.

 

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