Russian Finance Ministry proposes introducing 30% tax on additional revenues in 2026 for producers of non-ferrous metals, fertilizers, 20% for gold miners

MOSCOW. Sept 24 (Interfax) - The Russian Finance Ministry proposes imposing on certain mining and metallurgy companies a 30% tax on additional revenues received in 2026 through a growth in global prices for their products compared with the baseline level of 2025, the ministry's press service reported.

The proposed tax for gold mining companies is 20%.

"The draft bill stipulates modifications to resource rent taxes. In the mining and metallurgy sector, it proposes imposing on certain mining organizations a tax of 30% of additional revenue received as a result of the growth in global prices for solid minerals in their ruble equivalent compared with the baseline for 2025 (and 20% for gold). For certain product types in the resource industries (precious metals, non-ferrous metals, fertilizers, and others), global prices underwent a rapid increase in 2026, allowing companies to receive additional rent income," the commentary accompanying the draft budget bills reads.