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Russian Ministry of Economic Development against increase of tax burden on oil companies

September 24, 2015, 21:44 UTC+3 MOSCOW

The Finance Ministry has come up with a proposal of changing the Mineral Extraction Tax (MET) calculation procedure

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©  TASS/Maxim Slutskiy

MOSCOW, September 24. /TASS/. The Russian Ministry of Economic Development does not support increase of the tax burden on oil and gas companies in conditions of low prices for hydrocarbons, the press service of the ministry told TASS on Thursday.

"Increase of the tax burden may result in companies’ investment cut, which will adversely affect related branches of industry," the press service said.

The ministry is currently considering various options of adjusting the natural gas tariffs, particularly below 7.5%, the press service added.

Final options of tariffs adjustment will be determined on the basis of the economic situation, the press service said.

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