Russia says may revise added income tax on oilfields after July

MOSCOW, Dec 9 (PRIME) -- The Finance Ministry can extend the revenue added tax on oil deposits no earlier than in July 2023, Deputy Minister Alexei Sazanov said on Friday at a press conference.

"A decision to extend the revenue added tax can only be made no earlier than the end of the first half of next year," Sazanov said.

He said that the tax is designed to stimulate output, but introduction of an oil product embargo makes the base output unclear. "If the base output falls, there is no point in extending the revenue added tax," Sazanov said.

The official also said that the ministry will continue to analyze the resource sectors of the economy, where taxes could be raised in 2023.

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