23 April 2004 22:45
Duma passes law raising oil taxes (Part 2)
Amendments to article 3 of the law on customs tariffs and article 5
of the law on amendments to part 2 of the Tax Code and several other
MOSCOW. April 23 (Interfax) - The State Duma on Friday adopted a bill raising the mineral resources tax in production
of crude to 400 rubles a tonne and setting a scale for oil export duties that depends on international oil prices.
items of legislation, as well as the cancellation of certain items of legislation increase the basic rate on crude
output to 400 rubles per tonne from 347 rubles.
difference between the actual price and $20 for prices of $25 per
barrel, and no more than $29.2 and 65% of the difference between the
The scale for export duties starts at zero for oil prices of up to $15 per barrel, 35% of the difference between the
actual price and $15 for prices of $15 to $20 per barrel, no more than $12.78 plus 45% of the
actual price and $25 for prices of over $25 per barrel.
The bill's explanatory note says that there will not be any negative consequences for the oil industry's
economy because the charges will directly depend on international oil prices. [RU ASIA EUROPE EEU EMRG OIL CRU LAW]
me
[Interfax] |
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