The Ministry of energy of the Russian Federation against the extension of the freeze export duties from 2016

The Ministry of energy of the Russian Federation against the extension of the freeze export duties from 2016


Energy Minister Alexander Novak recalled that the decision on freezing of export duty for eight months – until September 1 – will give the budget in 2016 to 133 billion rubles of additional income.

MOSCOW, 14 Oct. The Ministry of energy of the Russian Federation against the extension of export duty freeze beyond 2016, told reporters energy Minister Alexander Novak.

“We are against the extension (freeze export tariffs after 2016 — ed.), believe that all solutions need to be implemented in accordance with the tax maneuver. We hope that the decision on freezing of export taxes in 2016 will be sustained”, he said during the meeting of the Board of RSPP.

Novak reminded that the decision on freezing of export duty for eight months — until September 1 — will give the budget in 2016 to 133 billion rubles of additional income. The rest of the money (it was assumed that the additional revenues from increasing the burden on oil companies will be at the level of 200 billion rubles) will be received, according to him, due to the growth of oil production.

The government on 10 October submitted to the state Duma a bill to freeze the reduction of export duties on oil, rate to calculate the fee in 2016 is proposed to maintain the level of 2015 — 42%. Valid from 1 January 2015 the tax maneuver in the oil industry expected an increase in the severance tax on oil and reduced rates for calculation of export duties on oil to 36% in 2016.