Duma increases tax burden on oil, gas companies in 2023-2025

MOSCOW, Nov 10 (PRIME) -- The State Duma, Russian parliament's lower chamber, passed on Thursday in the second and third reading a budget-forming law to increase the tax burden on the gas and oil companies in 2023–2025.

The document provides for additional withdrawal of 50 billion rubles a month, or a total of 1.8 trillion rubles from Gazprom in 2023–2025. It also moves forward adjustment of the mineral extraction tax on natural gas to January 1, 2023 instead of July 1.

The measures were initially supposed to bring over 2 trillion rubles to the state coffers.

The law increases the profit tax for exporters of liquefied natural gas (LNG) to 34% from 32% in the period. The law applies to the producers that have exported at least one batch of gas until the end of 2022.

The law also keeps the price discount taken into account in determining the damper for automobile gasoline until the end of 2025.

(61.0611 rubles – U.S. $1)

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