Russia Considers Hike In Gas Extraction Tax

by Tatiana Smolenskaya, Tax-News.com, Moscow

Legislation has been tabled in Russia's lower of house of Parliament to raise the mineral extraction tax paid by gas exporters.

Draft federal law no. 2013-p, "On Amendments to Article 342 of the Tax Code of the Russian Federation," was tabled before the Duma on October 9.

The bill would temporarily raise the tax burden on Gazprom – as the sole exporter of gas in a gaseous state – by 36.7 percent in 2016.

The legislation was published on Government's website on October 10.

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