10 Jul 2014 13:30

Dvorkovich backs deducting exploration costs from MET

GORKI. July 10 (Interfax) - Deputy Russian Prime Minister Arkady Dvorkovich said he backed an initiative to deduct exploration costs from mineral extraction tax (MET).

"As far as taxation is concerned, I support the need to deduct exploration costs from MET," Dvorkovich said at a Cabinet meeting.

Russian Prime Minister Dmitry Medvedev said at the meeting that there were not enough concessions to stimulate exploration today. "We're not doing enough, a system of incentives must be introduced," he said.