Russia's Finance Ministry expects MET on gold in 2025 to amount to 105 billion rubles

MOSCOW. June 25 (Interfax) - Russia's Finance Ministry's calculates that revenue from mineral extraction tax on gold to the federal and regional budgets in 2025 will total 105 billion rubles, First Deputy Finance Minister Irina Okladnikova said.

"The preliminary estimate is about 50 billion rubles in January-May of this year, of which 30 billion rubles will go to regional budgets," Okladnikova said at the State Duma Committee on Ecology. "Overall, for the year, our expectations, taking into account the bill that we recently reviewed, an amendment to the law, are 105 billion rubles, of which 63 billion rubles will go to regional budgets," she said.

Okladnikova recalled that 40% of mineral extraction tax revenues on gold are credited to the federal budget and 60% to regional budgets.

In 2025, a surcharge of 10% of the excess of the world price over $1,900 per ounce was introduced to the standard mineral extraction tax rate on gold at 6% of the cost. Gold prices are currently around $3,300 per ounce.

From June 1 until the end of the year 2024, a "patch" of 78,000 rubles per 1 kg of gold was in effect. This "patch", Okladnikova said, brought in an additional 17 billion rubles, of which 10 billion rubles went to regional budgets.