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Russia Approves Gas Extraction Tax Hikes

Russia Approves Gas Extraction Tax Hikes
© RIA Novosti. Roman GalkinMOSCOW, May 2 (RIA Novosti)
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The Russian government has raised the gas extraction tax for Gazprom and lowered tax increases for the country’s independent gas firms for 2013-2015, Deputy Finance Minister Sergei Shatalov said on Wednesday.
The changes will bring in an extra 36 billion rubles ($1.2 billion) to the federal budget in 2013, 134.3 billion rubles in 2014 and 270.3 billion rubles in 2015, Shatalov said.
“The rates for Gazprom will equal 582 rubles per 1,000 cu m in the first half of 2013 and 679 rubles in the second half, 717 rubles in the first half of 2014 and 859 rubles in the second half and 886 rubles in the first half of 2015 and 1,062 rubles in the second half,” he said.
Russia’s independent gas producers will have to pay an extra 265 rubles per 1,000 cu m in the first half of 2013 and 445 rubles in the second half, 456 rubles in the first half of 2014 and 726 rubles in the second half, 726 rubles in the first half of 2015 and 1,049 rubles in the second half.

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