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Russia extends tax vacation for E Siberian deposits to 2022

September 24, 2012, 15:20 UTC+3
The tax vacation had been introduced on January 1, 2007 and its term ended in 2017
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GORKI, September 24 (Itar-Tass) —— Russia’s government has made a decision to extend the tax vacation for deposits in East Siberia to January 1, 2022, Minister of Energy Alexander Novak told reporters on Monday following a meeting with Dmitry Medvedev on stimulation of hydrocarbon production in Russia.

The government made a “decision on extension of benefits for the tax on production of natural resources – the so-called tax vacation – for deposits situated in East Siberia to January 1, 2022,” Novak said. He added that the tax vacation had been introduced on January 1, 2007 and its term ended in 2017. The minister explained: as the decision to develop and synchronise infrastructures /construction of pipelines to those deposits/ had been just adopted, the term in the framework of the investment cycle was moved to January 1, 2022.

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