The Ministry of energy has offered tax incentives for exploration

The Ministry of energy has offered tax incentives for exploration


Now the legislation provides for the possibility of granting benefits to new deposits for the term from 7 till 15 years from the date of issuance of the license, the Minister of energy Alexander Novak.

MOSCOW, 27 Jan. The Ministry of energy at the meeting of the presidential Commission on fuel and energy complex proposed to encourage exploration in the far East and Eastern Siberia at the expense of benefits for the met, told journalists after the meeting Minister of energy Alexander Novak.

“We proposed that the Ministry offered to consider possibilities to stimulate exploration. In my report I mentioned some innovations from the point of view of taxation, which would allow more efficient use of existing benefits, and perhaps consider new ones,” said Novak.

In particular, he noted that now the law provides the possibility of granting benefits to new deposits for the term from 7 till 15 years from the date of issuance of the license.

“Given that today, because of declining investment activities and lack of access to financial markets over the last two years decided to shift to the right implementation of commissioning of individual deposits, it is necessary, including, and adjust this mechanism. We offered to provide the use of benefits since the issuance of the license, since working directly in the field and achieve a proficiency of at least 1%”, — said the head of the Ministry of energy.

“We have also proposed mechanisms to stimulate exploration in the far East and East Siberia, geologically unexplored territories to allow companies to conduct exploration operations, in case of discovery of fields to consider the possibility of granting them exemptions on the mineral extraction tax,” added Novak.