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Russia may change fuel and energy sector taxation in 2017 — deputy PM

March 23, 17:12 UTC+3
The Russian government does not expect oil prices to return to previous levels and will try to balance interests of the budget and companies in the new reality
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© Vladimir Smirnov/TASS

BOAO, March 23. /TASS/. Legislative changes in Russia contemplating export duties cut and higher mineral extraction tax may take place in 2017, Deputy Prime Minister Arkady Dvorkovich said on Wednesday.

"These changes are not ruled out to take place already in 2017," Dvorkovich said.

The government does not expect oil prices to return to previous levels and will try to balance interests of the budget and companies in the new reality, he added.

"It may well be so that the tax maneuver [change in oil export duty and mineral extraction tax rates - TASS] should be accelerated instead of delaying. This is a measure exactly providing for quicker reduction of rates along with the mineral extraction tax increase but calculations have not been completed yet," the official said. The maximal rate for the duty calculation is set at the level of 42% in 2016.

This does not oppose the earlier stated intention of authorities not to change the fiscal policy until 2018, Dvorkovich added. "We said general taxes will not be increased but pinpoint changes in tax laws are taking place all the time," he added.

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