Government agrees the suggestion to increase oil mineral tax in 2014-2016

The governmental committee for budget planning has agreed the tax maneuver presupposing the gradual reduction of oil export duties for oil and light oil products and the simultaneous increase in basic oil mineral tax in 2014-2016. It will be unprofitable for oil producers but profitable for the budget. The latter loses 444.2 in the case of a reduction of the duties, and gains 618 billion rubles in the case of raising of the tax.

The governmental committee for budget planning has agreed the tax maneuver, the mass-media report referring to the First Vice-Premier of the Russian Federation I.Shuvalov. He states that next year oil companies will get from the planned freezing of railway tariffs 25-27 billion rubles. “We think it is unfair that the oil sector can win most of all. We would like to redistribute their profit for other purposes of the budget system”, I. Shuvalov adds. “The mineral tax is included into the tax maneuver in the form not so tough as we wanted”, he explains.