The government approved the draft laws on PDM in the oil industry

© RIA Novosti / Maxim to Bogodeeva in fotosannette conventional pumping unit. Archival photoThe government approved the draft laws on PDM in the oil industry© RIA Novosti / Maxim to Bogodeeva the image Bank

The Russian government has approved draft laws on the tax to the added income (TEI) in the oil industry, according to a list of decisions published on the website of the Cabinet.

The bill proposes to amend the Tax code and the law «On customs tariff», which are necessary for the introduction of PDM.

«To approve the draft Federal laws «On amendments to the Tax code of the Russian Federation (regarding the introduction of tax on additional income from production of hydrocarbons)», «On amendments to articles 35 and Z1 of the Russian Federation Law «On customs tariff» and submit them to the State Duma in the established procedure», — stated in the message.

On Tuesday at a meeting with Prime Minister Dmitry Medvedev about the development of the oil industry, energy Minister Alexander Novak requested to approve the bills on PDM and submitted to the state Duma to adopt in the first quarter of 2018, with the entry into force of the new tax on 1 January 2019.

As mentioned in the report of Novak, it is expected that PDM will be distributed into four groups of fields. The first group of new fields in Eastern Siberia with proficiency less than 5%; the second field, benefiting from the exemption for export duty; the third operating fields in Western Siberia with the proficiency from 10% to 80% (quota not exceeding 15 million tons per year based on the actual filings of companies); the fourth new field in Western Siberia with proficiency less than 5% of total reserves is not more than 50 million tons per year.

The basis for the calculation of NDM will be the estimated revenue from operating and investment activities of exploration and mining in the license area, less the amount of actual costs, mineral extraction tax, export duties, transport costs and so on; a tax rate of PDM — 50%.

To ensure fiscal stability of the stored payment of the severance tax, but at a lower than the current tax system level. For new deposits provides favorable tax conditions: grace period for the payment of the severance tax, transfer of losses of the current period to future periods, as well as the historic loss to new fields in new regions of oil production.

As mentioned in the report of Nowak, for the pilot project for the introduction of PDM in the third group selected 35 license areas of «Rosneft», «LUKOIL», «Gazprom Neft», «Surgutneftegaz» and other companies.The government approved the draft laws on PDM in the oil industry© RIA Novosti, Informaticompletion: from exploration to the consumer

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