The tax burden on oil companies exceeded, according to the state Duma

© RIA Novosti / Vitaly to Timepiece in fotosannette the machine-rocking. Archival photoThe tax burden on oil companies exceeded, according to the state Duma© RIA Novosti / Vitaly to Timepiece the image Bank

The tax burden on Russian oil companies have reached the limit, and increase it further, as it will entail a further decrease in investments, said at a round table in the state Duma the Chairman of the energy Committee Pavel Zavalny.

«Today, the tax burden on the oil industry limits, and we must not increase it. In all decisions related to the tax maneuver, large, small, we must not increase the tax burden to give the oil, at least not to reduce oil production, today and in the future. It is also our priority,» — said logjam.

He also noted the need to create incentives for the development of oil refining. «Over the past five years the volume of investments into oil refining has decreased in two times. If five-six years ago, the investment volume was 250 billion rubles a year, now — no more than 120-125 billion,» — said the head of the energy Committee.

He stressed that the first priority of the authorities is to maintain price stability in the Russian market of motor fuels to the price increase did not exceed the annual rate of inflation, including through requirements of increasing volume of sales on the stock exchange, efficient customs regulation of export of petroleum products in case of growth of prices and, possibly, the establishment of vertically integrated companies quotas for sales on the domestic market.

In turn, Deputy energy Minister Pavel Sorokin advocated the predictability of the tax system and market approach in the fuel sector to avoid unintended consequences, for example, in the form of a further decline in investment.

«So much unpredictability to some extent, fiscal regime, investment in processing has decreased significantly. 120 billion, which Paul called logjam is probably the maximum figure investment. A large part of these investments is to maintain the current operation of the refinery, and not on their development and modernization. If changing the fiscal regime, introduced some limitations, no upgrades will not do. This means that the sector will have problems with point of view, even for maintaining the current capacity,» — said Sorokin.

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