Metallurgists proposed linking taxes on ore and coal to Russian prices
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The Russian Steel Association, which unites the largest Russian ferrous metallurgy enterprises, has proposed calculating the mineral extraction tax (MET) on coking coal and iron ore, focusing on domestic Russian prices. The corresponding proposal, among others, was sent by the association to the Ministry of Industry and Trade on February 21, 2023 (Vedomosti has a copy of the letter). Now foreign quotations are included in the formulas for calculating the MET for these types of raw materials.
Since the beginning of 2022, a new procedure for calculating the MET for iron ore and coking coal has been introduced in the Russian Federation, linked to market prices for these products.
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