Russian finance ministry: oil export duty to come down in 2017 as planned

23 Sep, 2016

MOSCOW: Russian finance ministry does not plan to change the parameters of existing oil export duty calculation, which is set to come down next year to 30 percent, the minister Anton Siluanov told reporters on Friday.

The reduction of oil export duty, as part of a wider oil taxation system changes, was paused this year, while the mineral extraction tax was increased as planned.

Oil companies have been worried that the MET may come up next year as planned but the duty would remain frozen in 2017.

Siluanov added that the finance ministry planned to get around 280 billion roubles ($4.4 billion) in dividends from the state companies annually.

Copyright Reuters, 2016

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