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Russia considers raising mineral extraction tax for steel makers — minister

September 28, 2015, 20:15 UTC+3 MOSCOW

The government is now considering various options of adding sources of budget revenues

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© Donat Sorokin/TASS

MOSCOW, September 28. /TASS/. Russian government considers raising mineral extraction tax for steel makers, Economic Development Minister Alexey Ulyukayev said on Monday.

"Theoretically, steel makers could be considered as well," he said when answering a respective question.

The minister added that the government is now considering various options of adding sources of budget revenues. "The fact is more or less clear that a more gradual reduction of crude export duty is a source of budget revenues. We should cross from 42% over to 36%. Obviously, we can rather smoothly only cross to 40% and 39%," he said.

All participants of the discussion support the issue of limiting the duty reduction, Ulyukayev said. "There are only quantitative assessments - some want less, some - more," he said.

Additional budget revenues may be reached beyond the energy sector, for example, using revenues of the Bank of Russia, the Minister said.

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