Shuvalov: the export duty on oil will freeze the entire 2016

Shuvalov: the export duty on oil will freeze the entire 2016


Earlier it was reported that when considering the draft budget for 2016, the government took the decision to retain export duties on oil only until 1 September 2016.

MOSCOW, 22 Oct. The export duty on oil in Russia will be frozen for the entire year of 2016, said first Deputy Prime Minister Igor Shuvalov.

Earlier, Minister of energy Alexander Novak reported that when considering the draft budget for 2016, the government took the decision to retain export duties on oil within a large tax maneuver at the level of 42% only until 1 September 2016.

“Due to the fact that the export duty regime that was proposed by the Ministry of Finance, will continue for the whole year, not nine months, revenues of the Federal budget next year will be increased. Under these revenues, respectively, we have specified the costs reported to the Prime Minister, and we have a document that is not already subject to change”, — said Shuvalov.

He added that together with the budget has several proposals, including the main directions of tax and budget policies and long-term forecast of socio-economic development.

“There have been proposals to review the documents in the new version… Previous version… was examined in April this year, we nevertheless, by prior agreement with the state Duma decided to send those options that the government approved in April, keeping in mind that we, together with the state Duma and other stakeholders will have additional time to ensure that by April next year, together with clarification of the parameters of state programs the main directions of budget and tax policy and long-term forecast of socio-economic development to be clarified”, — said Shuvalov.