Mining Tax Calculation


The President introduced a number of amendments to the Tax Code. The corresponding package of federal laws is published today by Rossiyskaya Gazeta.

The first change concerns the payment of tax on personal income in transactions with securities. Today, by law, individuals can buy or sell securities through a broker or trustee. He is a tax agent in the event that the client receives income and will have to pay tax. Meanwhile, until now, this rule has not covered a number of operations, for example, with shares of mutual investment funds. The legislator has eliminated this gap.

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The second amendment to the Tax Code concerns the procedure for taxation of transactions with a new type of securities – clearing certificates of participation. A clearing participation certificate is a non-issue-grade security that certifies a share in a certain asset pool. By presenting a certificate, its owner receives his share of the value of this pool. According to the new law, operations on depositing property and returning it to the pool are exempted from value added tax and income tax.

The third change concerns the payment of income tax for operations of banks with precious metals. According to the amendments, when determining the amount of tax, the difference between the purchase and sale price of precious metal and the accounting price for this metal of the Bank of Russia is taken into account.

And another amendment to the Tax Code clarifies the procedure for calculating mineral extraction tax for gas producers. Taking into account the new rules, the severance tax rate will increase, which, according to government experts, will allow in 2016 to increase budget revenues from this tax by 115 billion rubles.

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