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Russian officials expect new taxes on steel, coal and iron ore producers to increase the state budget by 130 billion rubles ($1.
8 billion)
in 2022, Reuters reported.
Moscow is considering imposing a mineral extraction tax (MET)
linked to global prices on ferrous metal and fertilizer producers, as well as ores mined by Nornickel, sources said last week.
The new tax is expected to add an additional 10 billion rubles
to fertilizer producers, three sources said.
One of the sources added that for Nornickel, the new tax will cost an additional 20-25 billion rubles
.
A government source said the details of the proposed changes to the tax system would be hammered
out before the second reading of the Duma, the lower house of parliament.
The Russian government, the Ministry of Finance, Nonickel and major fertilizer producers declined to comment
.
Major steel producers also declined to comment, but Severstal said "constructive dialogue continues, positions are being harmonized and mutually acceptable solutions have been worked out"
.
Russian officials expect new taxes on steel, coal and iron ore producers to increase the state budget by 130 billion rubles ($1.
8 billion)
in 2022, Reuters reported.
Moscow is considering imposing a mineral extraction tax (MET)
linked to global prices on ferrous metal and fertilizer producers, as well as ores mined by Nornickel, sources said last week.
The new tax is expected to add an additional 10 billion rubles
to fertilizer producers, three sources said.
One of the sources added that for Nornickel, the new tax will cost an additional 20-25 billion rubles
.
A government source said the details of the proposed changes to the tax system would be hammered
out before the second reading of the Duma, the lower house of parliament.
The Russian government, the Ministry of Finance, Nonickel and major fertilizer producers declined to comment
.
Major steel producers also declined to comment, but Severstal said "constructive dialogue continues, positions are being harmonized and mutually acceptable solutions have been worked out"
.
