The Finance Ministry will insist on the introduction of excess profit tax for oil after 2016

The Finance Ministry will insist on the introduction of excess profit tax for oil after 2016


To replace the export tax on excess profit tax for oil industry is planned to gradually after 2016, said Finance Minister Anton Siluanov. According to him, this is a modified version of the suggestions of Minenergo.

MOSCOW, 27 Jan. The Ministry of Finance of the Russian Federation will insist on the gradual introduction of the added tax income (JPM) for the oil industry after 2016, told reporters Finance Minister Anton Siluanov.

“After (2016 — ed.) will need to seriously address taxation of the oil industry. We propose to gradually introduce a tax on additional income,” — said Siluanov.

“The Ministry wants NPR (tax on financial result — ed) We want your version improved gradually replace the export tax on excess profit tax”, — said the head of the Ministry of Finance.

Earlier the energy Ministry has proposed to reduce the tax burden on depleted field by using the tax on financial result (NFR). The bill submitted to the Duma.

The Ministry of Finance has found that targeted benefits and proposed to introduce a tax for all deposits. Deputy Prime Minister Arkady Dvorkovich said that the decision to impose PR in the oil industry accepted and will not be reviewed; at the same time will be worked out by the Finance Ministry’s proposals on the introduction of the NDM.

Minister of energy Alexander Novak in mid-October reported that the prospects for introduction of excess profit tax will be discussed at the meeting of the presidential Commission on fuel and energy complex, which will take place this Tuesday.