Oil Tax Discount in Cards?

June 11, 2010

The government may impose a discounted tax rate on exports of east Siberian crude on July 1, while cutting the duty on crude oil exports as much as 16 percent after international oil prices declined.

The standard export tax rate may fall to about $246 to $249.80 per metric ton, according to Bloomberg calculations based on Finance Ministry data.

A discounted tax rate of about $70 per ton may be imposed on east Siberian fields that now enjoy an exemption.

(Bloomberg)

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