According to Russian RIA Novosti News Agency, Moscow, October 12, Russia’s leading business daily Vedomosti newspaper quoted a news provider from the Russian Ministry of Energy as saying today that the Russian Ministry of Energy has proposed to lift the highest crude oil export tax from the current 65%. Cut to 55% in order to shift the tax burden from oil production to oil refining.
The Vedomosti newspaper reported that a 10% reduction in the maximum crude oil export tax will increase the profits of crude oil exports and increase the price of crude oil in the domestic market. In turn, it will reduce the marginal profit of refined petroleum products.
The Vedomosti newspaper stated that UBS analysts from UBS said later in 2008 that for Russia, because crude oil exports can bring higher income to the treasury and oil companies, exporting crude oil is more favorable than exporting petroleum products. Can be.
If a new tax system is implemented from 2012, the total budget revenue from the oil sector will reach 43.32 trillion rubles in the next 10 years.
The Vedomosti newspaper also stated that Russia’s current taxation and customs systems provide incentives for oil refining to harm crude oil production, and Russia’s export tax on petroleum products is much lower than crude oil export taxes.
The Vedomosti newspaper reported that a 10% reduction in the maximum crude oil export tax will increase the profits of crude oil exports and increase the price of crude oil in the domestic market. In turn, it will reduce the marginal profit of refined petroleum products.
The Vedomosti newspaper stated that UBS analysts from UBS said later in 2008 that for Russia, because crude oil exports can bring higher income to the treasury and oil companies, exporting crude oil is more favorable than exporting petroleum products. Can be.
If a new tax system is implemented from 2012, the total budget revenue from the oil sector will reach 43.32 trillion rubles in the next 10 years.
The Vedomosti newspaper also stated that Russia’s current taxation and customs systems provide incentives for oil refining to harm crude oil production, and Russia’s export tax on petroleum products is much lower than crude oil export taxes.
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