The media learned about plans of the Ministry of Finance to increase the met for Gazprom

© RIA Novosti / Maxim to Aminopherase in fotomontaggi company Gazprom. Archival photoThe media learned about plans of the Ministry of Finance to increase the met for Gazprom© RIA Novosti / Maxim to Aminopherase the image Bank

The Finance Ministry proposes to partially compensate for lost dividends «Gazprom» at the expense of increase to the monopoly of the tax on mineral extraction (met), it will increase budget revenues by about 30 billion before the end of the year, writes «Kommersant» with reference to sources.

The Ministry of Finance has prepared amendments to the Tax code that will increase the payment of «Gazprom» for the gas severance tax in the fourth quarter. It is proposed to do by increasing the coefficient in the formula for calculating the tax 1,7969 to 2,2738 in October-December. The newspaper notes that the monopoly rate is higher than for independent gas producers.

Such as the sources explain that «Gazprom» has approved lower dividend for the year 2016 than expected. The Ministry and gas group declined to comment.

It is noted that raising the severance tax does not compensate for the shortfall of dividends. The Finance Ministry has budgeted this year, dividends «Gazprom» at the rate of 18.86 per share, or 446 billion rubles, but the monopoly will pay only 190 billion rubles (20% of net profit for the year 2016 according to IFRS).

To this decision the government came after a public recommendation of President Vladimir Putin, who in may said that «paper» profit of «Gazprom» due to exchange rate differences for calculation of dividends should not be used. Finance Minister Anton Siluanov said then that, with this approach it was not necessary to take into account the «paper» loss «Gazprom» in 2015, caused by the same reasons. On the sidelines of the SPIEF Siluanov said that the Finance Ministry will continue to insist that state-owned companies gave 50% of net profit on dividends, «despite the separate decisions this year, «Gazprom», «Rosneft».

Proposed by the Ministry of Finance amendments (include the excise tax in 2018 and the extension of the current parameters of the formula of the severance tax on oil and gas by 2020) are still in the early stages of discussion and has not yet been considered in the government, the newspaper said. If the Finance Ministry wants to collect from «Gazprom» additional funds this year, he needs to seek the adoption of amendments to the Tax code until the end of August. It will be difficult, given the summer holidays in the state Duma, which will affect almost the whole of August. If the Department will be able in time to make amendments, it will give them an effective instrument of pressure on «Gazprom» in the matter of dividends.

The media learned about plans of the Ministry of Finance to increase the met for GazpromAs far as Europe is dependent on Russian gas