Tax Maneuver in Russia's Oil Sector
Russian Economic Developments. Moscow, 2015, pp. 47-50
4 Pages Posted: 13 Sep 2015
Date Written: September 12, 2015
In 2015, the oil sector was subject to the so called “tax maneuver”, a system of measures aimed at significant reduction of economic component of the export duties and increasing the base rate of the mineral extraction tax. Tax maneuver will result in a more efficient structure of the tax system, reduction of subsidizing scale of crude oil refining sector and other EEU member states, provision of more incentives for energy efficient growth. Data released for H1 2015, demonstrates significant changes in a number of trends taking place in the oil sector under the effect of the maneuver including reduction of fuel oil production which took place for the first time over the last years and increase of the crude oil exports which is more efficient for the state budget in comparison with fuel oil exports.
Keywords: Russian economy, oil sector, tax maneuver, mineral extraction tax
JEL Classification: P24, E52
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