Ministry of Energy criticizes new proposals of Ministry of Finance on taxes for oil companies

Tax manoeuvre in the oil industry, prepared by the Ministry of Finance, will lead to an increased burden on the industry and will have "serious adverse effects"; besides, the proposed increase of excise duties on oil products will lead to a further rise in the prices of light oil products by 2% or by 0.5 rubles per liter. This was announced by a representative of the Ministry of Energy.

According to the analysis, carried out by the Ministry of Energy, the adoption of the Finance Ministry’s proposals to increase the severance tax rate to 775 rubles and excise taxes on almost all types of oil products in 2015 will have a serious negative impact on the industry in 2017,"- the RIA Novosti’s interlocutor said.

The Ministry of Finance hasn’t provided a quick comment on the matter.

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