Deputy Finance Minister said there are no plans to increase the severance tax on coal
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The Russian Ministry of Finance maintains its plans and is not considering the possibility of raising the mineral extraction tax (MET) on coal this year. This was announced in an interview with RIA Novosti by Deputy Minister Alexei Sazanov. In April, the press service of the Ministry of Finance reported “Kommersant” that in the case of good financial performance of market participants in January-March, it will be proposed to increase the severance tax for the fourth quarter instead of introducing export duties.
Answering the agency’s question whether the position of the Ministry of Finance regarding the increase in the severance tax has changed, Mr. Sazanov said: “Now nothing is being discussed in terms of changing the taxation of the coal industry.”
After the publication of “Kommersant” Alexei Sazanov declaredthat “there was a misunderstanding.” “We have not decided to collect anything, let the issue be decided at the government level here. So we’re just talking about what they (coal companies.— “b”) paid an increased MET in the first quarter, so they are now excluded from the tax. Then the government will make a decision on them,” the deputy minister said.
In recent years, the government has several times increased the tax burden on the mining and metallurgical industry in general and coal miners in particular. Since the beginning of 2022, the MET on coking coal has been linked to the global market: the rate has been set at 1.5% of the average coal price in accordance with the SGX TSI FOB Australia Premium Coking Coal index, while previously a fixed rate of 57 rubles was used. on t.
At the same time, the idea was discussed to introduce export duties on coal, including energy, if the price exceeds $150 per ton at the port of shipment. As a result, tax revenues from the Russian coal industry doubled in 2022, to RUB 360 billion. In 2023, taxes also increased from January 1 to March 31. The mineral extraction tax for anthracite, coking and thermal coal increased to 380 rubles. per ton, which should have made it possible to additionally attract 30 billion rubles to the budget.
About what else the authorities want to replenish the budget with – in the material “Kommersant” “Maturity is not joy”.
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