Tax on Extra Revenue to Introduce in Oil Industry

Monitoring of Russia's Economic Outlook. Moscow. IEP. 2017, No, 17. pp. 18-20

3 Pages Posted: 23 Oct 2017

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: October 23, 2017

Abstract

The development of the Russian oil industry requires new greenfield projects involving high development costs. In this context, the idea of introducing a tax on extra revenue (TER) for the oil industry has been debated extensively. The tax is supposed to ensure the minerals resource rent is extracted and the investment environment is suitable for development projects involving higher than- normal operating costs. However, TER represents a more sophisticated form of taxation that requires proper tax administration.

Keywords: Russian Economy, Oil & Gas Industry, Windfall Tax

JEL Classification: L71, L72, O47, Q32

Suggested Citation

Bobylev, Yuri and Rasenko, O., Tax on Extra Revenue to Introduce in Oil Industry (October 23, 2017). Monitoring of Russia's Economic Outlook. Moscow. IEP. 2017, No, 17. pp. 18-20, Available at SSRN: https://ssrn.com/abstract=3057251

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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