Tax Code Mineral Extraction Tax


1. Expansion of the scope of tax holidays provided for mineral extraction tax (hereinafter – MET), levied on the extraction of hydrocarbons (oil).

To create incentives for the development of offshore oil fields, the Government of the Russian Federation introduced a bill to the State Duma providing for the establishment of a mineral extraction tax rate of 0 rubles in relation to oil produced at the initial stage of development of oil fields located in the waters of the Black and Okhotsk Seas. The bill was adopted by the State Duma in the first reading.

2. Changes in the calculation of mineral extraction tax paid in the extraction of solid minerals.

In 2009, the Government of the Russian Federation submitted to the State Duma a bill amending the Code, which provides for the introduction of a new procedure for calculating mineral extraction tax in coal mining. This bill establishes a differentiated procedure for calculating the mineral extraction tax for coal mining depending on the type of coal, while the bill takes into account the need to minimize the negative consequences caused by transfer pricing in the coal industry.

Anthracite, coking coal, brown coal and coal, with the exception of anthracite, coking coal and brown coal, which are determined in accordance with the classification established by the Government of the Russian Federation, were identified as independent types of minerals.

For each type of coal, specific rates have been established, which are calculated in the conditions of 2010 on the basis of the task of ensuring the extraction of mineral extraction tax at the 2007 level, taking into account the actual prevailing level of coal prices in 2008 and their forecast values ​​for 2009 and 2010. If the new taxation procedure is to be enforced from 2011, in the opinion of the Ministry of Finance of Russia, it is necessary to appropriately revise the tax rates contained in the bill introduced by the Government of the Russian Federation.

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