Evaluation of the Ministry of Energy
The main objective of the tax on the financial results, as stated at the parliamentary hearings “On taxation of the oil industry” on Friday, Deputy Minister of Energy Cyril done, should be to increase oil production through the development of deposits, to invest in companies which are now profitable. The current tax regime today on mining (MET) reminds quilt today anyway under the benefits falls to 20% of the total fund deposits (400) – says the official. And which came into force at the beginning of the year tax maneuver, according to the Ministry of Energy, can not develop new reserves at an oil price of $ 60 per barrel.
Department of Energy during the preliminary study of the concept of the new taxation system has selected 12 projects out of 36 proposals companies to test the NFR. This field LUKOIL “Gazprom oil” and “Rosneft”, told deputies great. As can be seen from the presentation of the report of the deputy minister, the list includes fields in the NAO, Khanty-Mansiysk (Senators of the region in late 2014 brought to the State Duma a bill to experiment NFR) and YANAO: Khasyreiskoye, Nadeyyuskoe, Bakhilovskoe, Upper Colic-Yeganskoye – deposit ” Rosneft “; Vyngayakhinskoye, Ety-Valyntoyskoe – from “Gazprom Neft” Krasnoleninskoye, Lazorevskoe and Imilorsko-Istochnoye, Nivagalskoe, Las Yeganskoye – from Lukoil.
The deputy minister told journalists on Friday that of the 12 projects in the two depletion zero, one – less than 6%, the rest – above 15%. All projects (both consolidated and companies) in the three-year period do not give falling incomes for the budget.
Evaluation of the Ministry of Finance and the Federal Tax Service
Deputy Finance Minister Sergei Shatalov said in the State Duma, that during application of MET justified itself: to fill the budget and sovereign wealth funds and did not leave without a net profit of Petroleum, who earn $ 30-40 billion annually. Even at current oil prices and reductions in oil companies for 10% of investments in exploration and drilling they continue to have the same cash flow as in the previous oil prices, Shatalov said.
In the NFR, according to officials while many things that can be used for tax optimization, for example due to aggressive rate aplifta (write-off of capital expenditures. – RBC). Ministry of Finance unclear criteria for selection of 12 projects for implementation as a “pilot” for running NFR. “While the project selection criteria is simple: it is mine,” Gazprom Neft “, LUKOIL and” Rosneft “. And yet, “- said in a conversation with RBC Shatalov. “But is not the only criteria for a controversial topic. Discuss this tax must be everything: the rate of 60%, and the size of aplifta and criteria for its application. And the whole construction “, – said the deputy minister.
Deputy Head of the Federal Tax Service Dmitry Grigorenko outlined at the hearing that replace MET NFR without additional factors will not work: it would lead to an increase in the tax burden for a number of fields. In addition, the tax administration at the NFR much more complicated, because the financial results is scheduled to count from the territory, not for the whole company or activities as they are today.
Evaluation of Petroleum
The head of the Department of Economics of exploration and production of oil and gas LUKOIL Alex Ziganshin said on Friday that, according to the calculations of his company, in the period from 2016 to 2043 only from the introduction of the six proposed NFR LUKOIL fields (Lazorevskoe, Krasnoleninskoye, Nivagalskoe, Las Yeganskoye, Imilorskoe, the April deposit in Khanty) oil production will increase by 32,934,000 tons, from 2016 to 2020, an increase of 3.819 million tons, the budget revenues will increase by 350 billion rubles.
Advisor GR General Director of “Gazprom oil” Paul Karchevsky said that nearly 5,000 wells the company under the current tax system is only profitable 1143. He stressed that if the tax experiment on the proposed company will implement projects in 2016, by 2033 at oil prices of $ 60 per barrel in the pilot company will produce 60 million tons of deposits of oil, while maintaining MET – only 40 million tons. State revenues from taxes at the same time will increase by 200 billion rubles.
Regions agree with the calculations oil companies. Governor KhMAO Natalia Komarova said that the development of unallocated reserves of oil in her district will require an investment of $ 5.5 trillion rubles. According to her, without additional tax benefits for more than half of reserves – 305 million tons – may remain undeveloped. The economic effect of the introduction of NDF from 2016 to 2030, the region will bring 40% more taxes at an oil price of $ 50 per barrel of oil than it is today, and while maintaining the MET – only 16% (while maintaining oil production at the 2014 level ), said the governor.
Experiment 2016
Concluding the parliamentary debate on Friday, chairman of the Committee on Budget and Taxes Duma Andrey Makarov said that the deputies are still waiting for a comment made by the representative of the government on KhMAO four months ago a bill to change the tax code to implement NFR for pilot projects. Make it the government should by the end of April.
Deputy Finance Minister Sergei Shatalov in conversation with RBC on the results of the parliamentary hearings, said he did not consider the tax experiment NFR impassable.
According to Deputy Energy Minister Cyril Molodtsova until the end of March departments should agree on criteria for the selection of projects in the pilot, which will test a new tax.
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