Interfax: the government wants to withdraw Gazprom from the increased tax on export profits
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In the fall of 2022, in Russia, income tax for exporters of liquefied natural gas (LNG) was increased from 20% to 34%. According to Interfax citing a source, the Ministry of Finance developed amendments to the Tax Code, according to which the increased tax will not apply to Gazprom.
The amendments provide for the clarification of the list of companies whose profits will be subject to the increased rate. They are specified in paragraph 2 of part 1.1 of Art. 3 of the federal law “On Gas Export”. Other companies, including Gazprom, will not be subject to the 34% rate.
After the publication of the Interfax material, Gazprom shares on Mosbirzhe started to grow. As of 15:50, the growth was 2.1% (161.4 rubles per ordinary share).
The law on increased profit tax for LNG exporters was signed by the President of Russia on November 21, 2022. It came into effect on January 1, 2023. The increased tax rate will apply to legal relations that arose from 2023 to 2025.
On the impact of an increase in the fiscal burden on the budget – in the material “Kommersant FM” “LNG outlined the prospects”.
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