Russian Finmin: No Revolutionary Changes To Oil, Gas Tax Regime

Reuters

Russian Finance Minister Anton Siluanov said on Friday any changes in the oil and gas tax regime would not be "revolutionary" but energy taxes were to increase.

The ministry plans to stick to its current oil sector tax regime frame in the next five years. It was paused for a year in 2016 but is expected back on track in 2017. The taxation on the gas sector would gradually come closer to that for the oil industry, Siluanov told reporters.

Siluanov also said he expected additional revenues from the energy sector to go to the budget. The finance ministry was proposing to increase burden on the energy sector by 50 billion roubles ($787 million) per year.

(Reporting by Lidia Kelly, Darya Korsunskaya and Katya Golubkova; Writing by Maria Kiselyova)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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