Ministry offers lower MET on start of projects in strategic minerals

VLADIVOSTOK, Sep 6 (PRIME) -- The Natural Resources and Environment Ministry has proposed to reduce the coefficients for the mineral extraction tax (MET) for the first 10 years of production for the strategic types of minerals, Minister Alexander Kozlov said at the Eastern Economic Forum on Tuesday.

"In order to raise investment attractiveness of projects… we propose to consider the possibility for the strategic kinds… to introduce a reducing coefficient on the MET rate at the first stages of the project launch. For instance, for the first 10 years," Kozlov said.

The official added that the coefficient must be introduced on an individual basis.

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