The state Duma approved tax cuts for «Rosneft» and «Gazprom» companies will take from the budget of 6.5 billion rubles
State Duma Of The Federal Assembly Of The Russian Federation
«Rosneft» and «Gazprom Neft» will not pay export duties for raw materials with eight fields in Eastern Siberia and return from the Russian budget of about 6.5 billion rubles, listed after may 1
The state Duma adopted in the first reading the draft law on incentives for traders to pay export customs duties on oil fields where there is a state-added tax income (JPM). The document, initiated by the government of the Russian Federation, amendments to the law «On customs tariff».
«According to the bill proposed to extend the exemptions from payment of export customs duties on oil produced at fields in new regions of oil production at the initial stage of development, not only on the company-subsoil user, but also to other organizations that export such oil. The bill will extend to relations arising from 1 may 2019», — reports TASS.
Publishing in accessible language explained, what any of those proposals adopted by the deputies.
«Rosneft» and «Gazprom Neft» will not pay export duties for raw materials with eight fields in Eastern Siberia and return from the Russian budget of about 6.5 billion rubles, listed after may 1.
In the original version of the bill this benefit is provided only to companies direct users of the subsoil. However, the amendments made it and for «other persons» who export oil abroad.
As a result, «Rosneft» occupies first place in production in Russia (4 million barrels per day), and «Gazprom oil», located on the fourth line (0,85 million barrels per day), will be able to save a total of 1.5-2 billion rubles per month (or 18-24 billion per year).
State Duma adopted the document restores the right to use the benefits of other persons and the amounts of export duties paid by them before the entry into force of the bill, which will be returned to them, cannot be considered as revenues (expenses) Federal budget, as these amounts had not been planned as revenues, stated in the explanatory Memorandum.
But a member of the Duma Committee on budget and taxes Mikhail Shchapov (Communist party) explained that in the budget the «money received in accordance with applicable law, so their return is a direct loss budget.» «It turns out that when long preparation of the tax maneuver, the government made a mistake, did not consider the category of taxpayers, now for this mistake will pay the budget, but to acknowledge that error officials do not want», — said the Deputy.
The enemy of the benefits made by the Federal customs service. She insisted that exporters who are not payers of the PDM, are not entitled to apply breaks. Otherwise, the «possible abuse», and warned the FCS.
Added tax income (JPM)
From 2019 in the Russian oil industry has a new fiscal regime — tax on extra income (TEI) from the production of hydrocarbons, which, in particular provides for the exemption from export duties on oil produced at fields in new regions of oil production at the initial stage of development. PDM will be charged with proceeds from the sale of oil minus costs of production and transportation. While PDM is only valid for the pilot projects.
NDM rate was 50%. The tax applies to four groups of fields: new fields in Eastern Siberia with proficiency less than 5%; deposits benefiting from the exemption for export duty; operating fields in Western Siberia with the proficiency from 10% to 80% (at a quota not exceeding 15 million tons); new fields in Western Siberia with proficiency less than 5% of total reserves is not more than 50 million tons per year.
In accordance with the amendments to the law «On customs tariff» under the benefit of NDM get Taz, at kuyumbinskoe, Ignyalinskoye, the Novoportovskoye field of «Gazprom oil», as well as Boat, North Komsomolske, Yurubcheno-Tokhomskoye and Tagul oil and gas condensate field, developed by Rosneft.