Alliance Oil to request tax discounts under 60/66 system
MOSCOW. Dec 6 (Interfax) - Alliance Oil Company plans to appeal to the government by the end of this year for compensation for reduced income from export duties introduced under the new 60/66 system, a source close to the company told Interfax.
Alliance Oil estimates that it will lose around 4.5 billion rubles in income under the new system, the source said.
The company will register reduced income until it completes the second stage of the Khabarovsk oil refinery's reconstruction, scheduled for Q1-Q2 2013.
Alliance Oil is considering several compensatory options - a discounted railway tariff on oil shipments, discounts on connecting the Khabarovsk refinery to the main Eastern Siberia-Pacific Ocean (ESPO) pipeline and on pumping oil through ESPO, or other discounts that would allow the company to lower the cost of raw materials for processing at Khabarovsk, the source said.
Based on the company's estimate, the cost of directing oil from the Khabarovsk refinery to ESPO could total 3-3.5 billion rubles.
In November, Russia's State Duma adopted an amendment to the tax code providing for deductions on the natural resources extraction tax (NRET) for Tatneft and Bashneft under the new 60/66 system. The amendments provide Tatneft with a deduction from 2012-2016, and Bashneft from 2012-2015.