The Ministry of Natural Resources has proposed incentives for new projects for the extraction of scarce raw materials and hard-to-recover oil
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The Ministry of Natural Resources proposes to introduce a reduction factor to the mineral extraction tax (MET) rate for new projects for the extraction of strategic raw materials and hard-to-recover reserves (HTR) hydrocarbons. This was announced on September 6 at the Eastern Economic Forum (EEF-2022) by the Minister of Natural Resources and Ecology Alexander Kozlov.
According to the Ministry of Natural Resources, this measure will increase the investment attractiveness of projects. According to Kozlov, we are talking about a reduction factor to the severance tax rate “at the initial stages of the project launch” – for the first 10 years. The minister added that a working group was created to work out tax benefits for HRD. She develops the classification of TRIZ and their “linking to financial and economic models”.
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