The Ministry of Finance expects to replenish the budget by 600 billion rubles. as a result of Urals discount limitation

Deputy Finance Minister Mikhail Kotyukov said that the new regime for taxing the oil industry, proposed in the State Duma last week, will allow replenishing the Russian budget in 2023 with additional funds in the amount of more than 600 billion rubles. Mr. Kotyukov emphasized that the proposed amendments would not affect the volume of oil production. IN bill it is proposed to link the quotation of Russian Urals to Brent to calculate taxes. The Committee approved the bill, but demanded some clarifications on it.

“The cumulative budget effect in 2023, we expect more than 600 billion rubles due to all the proposed proposals – this is the first, and the second – we proceed from the fact that these clarifications – the adjustment of the taxation regime – will not have a negative effect, impact on the volume of oil production” – said Mikhail Kotyukov at a meeting of the budget committee in the State Duma. There he presented the proposed amendments (quoted by RIA Novosti).

During the meeting, Yury Stankevich, a member of the State Duma Energy Committee, proposed limiting the effect of the Urals discount to Brent, completing it by the end of 2023. Mikhail Kotyukov replied that the Ministry of Finance could not agree to such a condition without a preliminary analysis of the consequences.

Andrey Makarov, head of the Duma Budget Committee, said that, according to the amendments, the new taxation would not require additional budget expenditures, however, “falling revenues” are expected in the bill. Mikhail Kotyukov assured that the Ministry of Finance could provide relevant information. Mr. Makarov instructed to explain this issue at a meeting of the State Duma on February 16. “I would like this information to be presented along with the law. You just, probably, were in such a hurry that you didn’t have time to present it, ”said the head of the State Duma committee.

On February 12, the government submitted a bill to the State Duma, according to which it is proposed to use Urals quotes (determined by the Argus agency) until the average monthly values ​​fall below the determined level. In the event of a decrease in the calculations, it will be necessary to rely on the cost of Brent minus the discount. In April, the cut-off point is set at the Brent price minus $34 per barrel, in May – the price of Brent minus $31 per barrel.

Read more about how the cost of oil and taxes on companies will be calculated in the material “Kommersant” “Discounts are adjusted manually”.

Lusine Balasyan