The State Duma approved in the first reading an increase in the mineral extraction tax on gas – Kommersant

At a plenary meeting on October 17, State Duma deputies approved in the first reading a bill increasing the mineral extraction tax for the gas industry. The increased rate will be in effect from January 2024 until the end of 2026, reported on the website of the lower house of parliament..

The purpose of this bill is to withdraw to the federal budget additional income generated by gas companies as a result of rapid indexation of wholesale gas prices. Wholesale gas prices in 2024 will be indexed by 11.2%, and in the next year by 8.2%, as indicated in the draft budget for 2024 and for the planning period and 2025-2026.

The calculation of the mineral extraction tax rate is influenced by the Kkg coefficient, which is characterized by the withdrawal of additional company revenue from indexation of the domestic gas market. According to the bill, the Tax Code will establish an increasing coefficient for the mineral extraction tax – Kkg. For the owner of the Unified Gas Supply System Gazprom, the coefficient in 2024 will be 303 and 454 for the first and second half of the year. For independent companies – 555 and 706, respectively.

In 2025, Gazprom’s coefficient will increase to 428 for the first half of the year and 448 for the second. For independent gas companies – 779 and 799, respectively. From 2026, the coefficient is planned at 464 for Gazprom and 863 for other companies.

Thanks to the change in the coefficient, an increase in profits to the Russian federal budget is projected in the amount of 116.8 billion rubles in 2024, 127.3 billion rubles in 2025 and 134.7 billion rubles in 2026.

More details in the material “The increase in gas prices will go to the budget”.

Alexandra Goroshilova