TAX MANEUVER IN RUSSIA’S OIL SECTOR

Yuri Bobylev

Russian Economic Development, 2015, issue 8, 47-50

Abstract: In 2015, the oil sector was subject to the so called “tax maneuver”, a system of measures aimed at signifi cantreduction of economic component of the export duties and increasing the base rate of the mineral extraction tax. Tax maneuver will result in a more effi cient structure of the tax system, reduction of subsidizing scale of crude oil refi ning sector and other EEU member states, provision of more incentives for energy effi cient growth. Data released for H1 2015, demonstrate signifi cant changes in a number of trends taking place in the oil sector under the eff ect of the maneuver including reduction of fuel oil production which took place for the first time over the last years and increase of the crude oil exports which is more effi cient for the state budget in comparison with fuel oil exports.

Keywords: Russian; Economy (search for similar items in EconPapers)
JEL-codes: E52 P24 (search for similar items in EconPapers)
Date: 2015
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