Putin signs law on mineral extraction tax incentives
MOSCOW. June 30 (Interfax) - Russian President Vladimir Putin has signed a law concerning tax breaks as part of the mineral resources tax for hydrocarbons extracted in East Siberia, Yamal, the Nenets Autonomous District, the Sea of Japan, the Bazhenov Suite and the Gyda Peninsula.
According to the official internet portal of legal information, the law was signed on June 28.
The document increases the level of depletion for raw hydrocarbon deposits determined by data from the state mineral reserves balance as of January 1, 2012, as one of the conditions for applying a zero coefficient in producing oil from the Bazhenov deposit to 13% from 3%. In addition, the implementation of a coefficient in calculating the tax for the extraction of oil from the mentioned deposits has been postponed to January 1, 2015.