Transneft Comments on Tax

Transneft said a proposal to increase taxes on property from 2012 may result in increased rates to oil companies seeking to transit crude.

The proposed property tax increase would result in Transneft paying as much as 36 billion rubles ($1.2 billion) extra a year by 2015, spokesman Igor Demin said Tuesday.

The Finance Ministry has proposed canceling a tax break as of 2012 for railroads, pipelines, power grids and other infrastructure.

(Bloomberg)

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