Russia’s department of energy to improve mining tax by 5%from next year

According to Russia’s ria novosti news agency reported on April 12, the Russian federation’s finance minister Anton-west ismael’s said recently that, since 2014, the ministry of finance will mining tax rate increased by 5%.

Anton-west had said, now this is just the proposal put forward by the Treasury.This will soon be discussed at the meeting in the federal government. If these proposals through,it will lay the foundation of new tax policy to 2014-2016. The move will bring federal highway fund 500-600 billion rupees(about $9.656 billion – $63.85).

Anton-west ismael’s on Monday (April 9), according to the current Russian use gasoline to Europe is by the European standard 4 to standard 5 transition (in accordance with European standard 4 gasoline production as of December 31, 2012).There the gains of federal highway funds over the next three years will be reduced. And Europe’s no. 4 and 5 standard gasoline consumption tax is the remedial measures taken by ministry of finance for highway fund raise revenue.

In addition, experts said, if since 2014 can raise import tariffs of fuel oil (fuel oil) proposed by, can compensate for highway fund returns, while the improvement of mining tax rate can be arranged to 2015.

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