Ministry says suggests MET cut for rare metals to 4.8% from 8%

MOSCOW, Nov 13 (PRIME) -- Russia’s Natural Resources and Environment Ministry has suggested cutting the mineral extraction tax (MET) for rare metals to 4.8% from 8% in order to simulate production, the ministry said in a statement on Monday.

The ministry is now preparing an amendment to the Tax Code for submission to the government.

The amendment will also adjust the list of rare metals, which will comprise 34 elements, including lithium, cesium, beryllium, strontium, cadmium, scandium, indium, thallium, gallium, germanium, vanadium, niobium, tantalum, selenium, and tellurium.

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