Russia negotiated a new mineral extraction tax (MET) formula with Russian producers of steel, iron ore, coking coal, fertilizers and mixed ores such as those mined by Norilsk Nickel, but abandoned the idea of a new income tax, officials said.
Russia has abandoned the idea of a formula-based income tax tied to previous dividends and investments, the Interfax news agency reported Thursday, citing Alexander Shokhin, head of the Russian Union of Industrialists and Entrepreneurs.
The concept will be revised and will not be presented until at least 2023. Earlier this week, Shokhin criticized the idea as potentially dangerous to the investment climate.
Earlier this week, the Treasury Department said metallurgical companies would provide 160 billion rubles ($ 2.2 billion) in additional government revenue for 2022 through the new MET. Annual revenue from them is expected in 2023 and 2024.
The new MET for iron ore will be set at 4.8% from 2022, Interfax reported, citing Shokhin. According to him, the new excise tax on semi-finished steel will be set at 2.7%.
Russia imposes a new MET tax for metallurgical companies, abandoning the idea of a new income tax
|
Azovpromstal® 24 September 2021 г. 09:47 |
