Paying Mineral Extraction Tax

mining
PART II PART TWO Section VIII.1. SPECIAL TAX REGIMES Article 346.37. Features of determining the tax base, the calculation and payment of mineral extraction tax in the implementation of agreements

1. The provisions of this article shall apply in the performance of agreements that provide for the conditions for the division of manufactured products in accordance with paragraph 1 of Article 8 of the Federal Law “On Production Sharing Agreements”.

2. Taxpayers shall determine the amount of mineral extraction tax payable in accordance with Chapter 26 of this Code, taking into account the features established by this article.

3. The tax base for the extraction of oil and gas condensate from oil and gas condensate fields is determined as the amount of extracted minerals in physical terms in accordance with Article 339 of this Code.

4. The tax base is determined separately for each agreement.

5. The tax rate for oil and gas condensate from oil and gas condensate fields is 340 rubles per ton. At the same time, the indicated tax rate is applied with a coefficient characterizing the dynamics of world oil prices – Kc.

This ratio is determined monthly by the taxpayer independently according to the formula:

Kc = (C – 8) x P / 252,

where C is the average for the tax period, the price level of crude oil “Urals” in US dollars per barrel

P – the average value for the tax period of the US dollar to the ruble of the Russian Federation, established by the Central Bank of the Russian Federation.

The average value for the tax period of the US dollar to the ruble of the Russian Federation established by the Central Bank of the Russian Federation is determined by the taxpayer independently as the arithmetic average of the US dollar to the ruble of the Russian Federation established by the Central Bank of the Russian Federation for all days in the corresponding tax period.

The average price level for Urals crude oil for the tax period is defined as the sum of the arithmetic average purchase and sale prices on world crude oil markets (Mediterranean and Rotterdam) for all calendar trading days, divided by the number of trading days in the corresponding tax period.

The average prices of Urals crude for the past month on the world oil markets (Mediterranean and Rotterdam) are communicated monthly through the official sources of information every month no later than the 15th day of the following month in the manner established by the Government of the Russian Federation.

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