14 May 2004 01:51
OIL SECTOR TAX REFORM TO NET $100 MLN PER MONTH -ZHUKOV
MOSCOW. May 11 (Interfax) - Tax reform in the oil sector from the middle of the year will allow the state to receive
revenue of over $100 million per month, acting Deputy Prime Minister Alexander Zhukov said in the Federation
Council.
During a discussion of tax reform, Zhukov reminded that these reforms in the oil sector would make it possible to
increase the mineral resource extraction tax, and export duties on oil when world oil prices are high.
Zhukov said that the increased tax burden when oil prices are high
would make it possible to lighten the burden on a number of sectors -
Zhukov praised the State Duma and the Federation Council for quickly passing the packet of laws concerning the
taxation of the oil sector.
"This is very important for the government, given that recently the oil price growth dynamic is continuing on
world markets," he said. He said that the passing of the laws will allow the government to quickly react to the
situation on the world market.
particularly manufacturing.
"It is very important that the tax reform in the oil sector makes it possible to move more decisively to reduce
taxes in other industrial and production sectors," he said.
[Interfax] |
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