22 Jan 2010 13:09

Minfin considers replacing oil export duty, NRET with marginal revenue tax

MOSCOW. Jan 22 (Interfax) - The Russian Finance Ministry is considering the possibility of replacing the natural resource extraction tax for oil (NRET) and the oil export duty with a tax on marginal revenue, the head of the Finance Ministry's tax and customs policy department, Ilya Trunin, said in Moscow on Friday.

The idea "is a very long-term goal associated not only with the search for the optimal rates, but also the search for the optimal method of administering the tax and the search for how we can replace the export duty with that tax," Trunin said at the Russia and the World conference.