Putin proposed to reduce taxes on oil in Eastern Siberia.

KommentariiDefitsitny tovar11.02.2009Rossiyskaya "neftyanka" trying to dislodge lgotyEksportnaya additional tax on oil that is produced in new fields in Eastern Siberia, may be temporarily reduced. This statement was made by Prime Minister Vladimir Putin of Russia at the retreat meeting of the Government in Kirishi near St. Petersburg on the development of the oil industry, reports RIA Novosti.
According to Putin, the reduction rates of duty due to poor infrastructure and high cost of transportation. In addition, the Prime Minister added that the new fields are encouraged to develop a special model of taxation. According to the Ministry Sergei Shmatko, it would be appropriate to impose such a tax deposits, based on their profitability, transmits "Interfax".
Previously, it was reported that domestic oil would replace the tax on mineral extraction (NDPI), as well as a partial export duty on oil supertax, which had previously not been used in Russia. It was assumed that the minimum tax rate of 15 per cent of revenues from mining could be applied, if the total proceeds from the sale of hydrocarbons in 1-1,2 times higher than the costs of their production. The maximum rate of 60 per cent would operate at the difference between revenues and expenditures more than doubled.
At the government meeting on 12 February, Putin also noted that the tax burden on the country's oil industry has declined by 500 billion rubles. In particular, this occurred due to reduction of export duties on oil. If the summer of 2008 tax rate was 495 dollars per tonne, from 1 January 2009 it was reduced to 100,9 dollars. Since March 1, the export duty on oil will increase to 114-117 dollars per ton.
Sergei Shmatko added that of state to allow the oil industry in 2013 to increase oil production in Russia up to 511 million tons. Recall, on the basis of 2008 oil production in the country declined by 0.7 percent over the previous year and amounted to little more than 488 million tons. Shmatko also praised the investment deficit in the sector this year, more than 200 billion rubles.