Official: Russia can adopt new oil taxation system by December 1

YEKATERINBURG, Jul 12 (PRIME) -- A new system of oil industry taxation can be adopted in Russia until December 1, 2016, First Deputy Energy Minister Alexei Teksler told reporters on Tuesday.

“If we want to launch the new system, the law must be adopted until December 1. I think this is realistic,” Teksler said.

According to the official, the Energy and the Finance ministries have not agreed yet on the features of the future taxation system but the “general approaches have been agreed upon.” The ministries are likely to come to agreement, he added.

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