Oil Sector: Potential for Tax Incentives

Russian Economic Developments. Moscow. 2016, No 7, pp. 29-32

4 Pages Posted: 29 Jul 2016

See all articles by Yuri Bobylev

Yuri Bobylev

Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration

O. Rasenko

Russian Presidential Academy of National Economy and Public Administration (RANEPA)

Date Written: July 28, 2016

Abstract

The state of Russia’s oil sector is marked by a general deterioration of the oil extraction conditions owing to depletion of existing deposits in developed regions and significantly higher extraction costs at the new oil fields and tight oil deposits. In order to improve the situation, investments in the development of new oil fields are required as well as in deepened development of existing deposits with an improved refining margin.

Government fiscal policy should contribute to the resolution of these issues including implementation of structural reform in the tax system and introduction of special excess-profit tax.

Keywords: Russian economy, oil and gas sector, taxation of oil sector, tax incentives

JEL Classification: P24, E52

Suggested Citation

Bobylev, Yuri and Rasenko, O., Oil Sector: Potential for Tax Incentives (July 28, 2016). Russian Economic Developments. Moscow. 2016, No 7, pp. 29-32, Available at SSRN: https://ssrn.com/abstract=2815461 or http://dx.doi.org/10.2139/ssrn.2815461

Yuri Bobylev (Contact Author)

Gaidar Institute for Economic Policy ( email )

Gazetny pereulok, 3-5
Moscow, 125993
Russia

Russian Presidential Academy of National Economy and Public Administration ( email )

Vernadsky Avenue 82
119571
Russia

O. Rasenko

Russian Presidential Academy of National Economy and Public Administration (RANEPA)

Vernadskogo Prospect 82
Moscow, 119571
Russia

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