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Gazprom to Pay More Taxes

The Finance Ministry proposed doubling the mineral extraction tax next year for Gazprom, with further increases to follow as the government seeks to boost budget revenue.

Gazprom may pay 480 rubles ($17.20) per 1,000 cubic meters of gas next year, Deputy Finance Minister Sergei Shatalov said Tuesday. That compares with a 61 percent increase to 237 rubles this year, the first jump in the tax rate in five years.

Gazprom may face a tax burden of as much as 505 billion rubles in the next three years, Finance Minister Alexei Kudrin said June 1.

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