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Russian Finance Ministry not supporting oil and gas sector taxation changes

The level of tax burden in the oil industry already exceeds 60%, Alexey Sazanov said

MOSCOW, October 29. /TASS/. The Russian Ministry of Finance considers it inappropriate to alter the current taxation system in the oil and gas sector, as the tax burden on the industry remains one of the highest in the country, said Alexey Sazanov, the Deputy Minister of Finance, during a plenary session in the State Duma.

"Currently, our oil companies are repairing the damage caused to their refineries within very tight deadlines and are providing Russia and our consumers with petroleum products. Under these conditions, we believe that altering the taxation of the oil and gas sector makes no sense. We need to let the industry companies work in peace and perform the state function that they are currently successfully fulfilling," he said.

The level of tax burden in the oil industry already exceeds 60%, Sazanov said. "This is higher than in any other industry in the Russian Federation," he added.

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