The bill on the transition to the added tax income (JPM) for oil must be developed by the Ministry of Finance by October 1 of this year, to take effect from 2017. and begin to apply in 2018, according to “Kommersant” with reference to the minutes of the meeting Vice Prime Minister Arkady Dvorkovich.
As the newspaper notes, the document says that the meeting was taken part of the disagreement between the Finance Ministry and industry representatives, mostly in favor of the latter.
The introduction of PDM is an exchange of the existing incentives for individual deposits for the new tax levied on cash flow. Thus one of the key aspects of the dispute with the oil Ministry was the voluntariness of the transition to the new tax regime.
The Ministry of Finance insists on the PDM has passed all new fields, except those who had the privilege of duty at the beginning of 2016. However, Arkady Dvorkovich sided with the industry, “Kommersant” writes: in the year since the entry into force of the act demands the companies will be the right choice, and the benefits to duty you can get up to the beginning of 2017. However, according to interlocutors of “Kommersant”, if the Ministry of Finance will cancel the fee in 2018, companies will have to move to PDM, otherwise their benefits just reset.
The Finance Ministry has long advocated the abolition of privileges and their replacement with PDM. This, in particular, said the Director of the Department of tax and customs tariff policy of the Ministry of Finance Ilya Trunin in April 2015. “We do not understand on what basis are these incentives. We see that there comes a taxpayer submits a request that he has a very low yield from this Deposit, check nothing is impossible, but should be given an exemption for export duty. The energy Ministry is not able to control the Economics of the project, ( … ) — Supervisory body in the field of politics. Everything is working very inefficiently. If this mechanism is to transfer the tax office in the form of some new tax, PDM — it would be very correct”, — he said.