Content №4 от 2002
Oil producing regions under changes in the taxation system
The paper analyses changes in the system of taxation of the oil and gas sector of Russia that took place in the beginning of 2002. The reformation was extended to all oil-production key taxes: payments for the use of mineral resources, tax on profits, allocations for the restoration of the raw materials base, excise tax, and export duties. These changes are very painful to the interests of resource regions: the revenues of consolidated regional budgets from hydrocarbon production decrease. In the new situation it is required that the terms of all already made licence agreements be specified. The introduction of the severance tax (in its present form) will not stimulate the rational development of the hydrocarbon reserves, since on deposits with different mining-geological characteristics and at different stages of development the uniform rates are being established.
