Evaluation of the Oil Fiscal Regime in Russia and Proposals for Reform

30 Pages Posted: 22 Feb 2010

See all articles by Daria Zakharova

Daria Zakharova

International Monetary Fund (IMF)

Brenton Goldsworthy

International Monetary Fund (IMF)

Date Written: February 2010

Abstract

Oil revenue plays a central role in Russia's economic development. Thus, the recent decline in oil production and investment, and the possible contribution of the current fiscal regime to these developments, have prompted a reassessment of the oil tax system in Russia. Some important changes have already been made, while others are underway. This paper uses a simulation model to evaluate Russia's current oil fiscal regime. Based on these simulations, the paper proposes ways to make the fiscal regime more supportive of investment, while ensuring an appropriate share of oil sector profits for the government.

Suggested Citation

Zakharova, Daria and Goldsworthy, Brenton, Evaluation of the Oil Fiscal Regime in Russia and Proposals for Reform (February 2010). IMF Working Paper No. 10/33, Available at SSRN: https://ssrn.com/abstract=1555485

Daria Zakharova (Contact Author)

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

Brenton Goldsworthy

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

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