The Ministry of Energy is changing the conditions for obtaining a tax deduction for the modernization of refineries
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The Russian Ministry of Energy has developed a draft government decree establishing criteria for obtaining a “reverse excise tax” on oil by companies participating in the state program for the modernization of oil refineries (ORPs) since 2019. The document is published on the regulation.gov.ru portal.
According to the project, a company receiving payments under the reverse excise tax on January 1, 2023 must meet three criteria. Firstly, the legal entity should not be in the process of reorganization, liquidation, exclusion from the Unified State Register of Legal Entities. Secondly, the company should not have debts for taxes, fees and insurance premiums. And thirdly, the company must invest at least 60 billion rubles in the modernization of the refinery. and (or) send more than 4 million tons of raw materials in 2022 to their own processing facilities.
Compliance with these criteria will mean that the refinery will be able to receive a reverse excise tax on oil in 2024 and 2025. These criteria will make it possible to identify companies that are at the final stage of implementing agreements on the modernization of refineries and are bona fide taxpayers, follows from the explanatory note to the document.
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