23 April 2004 00:13
Russian finance chief says oil "exception" from lower taxes regime
Washington, 24 April: The Russian government is taking action specifically to achieve the diversification of the
national economy, Russian Finance Minister Aleksey Kudrin has told an ITAR-TASS correspondent in an interview, asked to
comment on the recommendations of the International Monetary Fund and the World Bank for Russia to reduce the dependence
of its national economy on oil exports.
"We have taken action to lower taxes across the board, in all sectors of the economy. The oil industry is an
exception," said Kudrin, who arrived in Washington on Friday [23 April] for a meeting of G8 finance ministers and
the spring session of the International Monetary Fund and the World Bank.
"As for the oil industry," Kudrin said, "taxes there will rise further."
The measures, he said, are "sending a clear signal: we are acting to nurture the non-raw materials sectors of
the economy, and our aim is diversification".
In the next few days, Kudrin added, the State Duma and the Federation Council will pass legislation on the new rates
of VAT, mineral resources recovery tax and oil export duty. "I am convinced that both the State Duma and the
Federation Council will pass these tax laws before 1 May, within a record short time," Kudrin said.
[ITAR-TASS news agency] |
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