Added income tax to cost Russian budget over 100 bln rbl in 2019

MOSCOW, Oct 3 (PRIME) -- Russia’s budget shortfall from introduction of the added income tax in the oil industry may exceed 100 billion rubles in 2019, Alexei Sazanov, head of the Finance Ministry’s tax and customs policy department, told reporters on Thursday.

“The estimate of our colleagues from our department is over 100 billion rubles for this year,” he said.

The government has to tailor the existing mineral extraction tax (MET) for each project but at the end of 2017, it approved the added income tax, or a tax on the difference between the cash flow and capital expenditures, for the oil industry.

(65.4399 rubles – U.S. $1)

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