Ministry of Finance prepares bill on improving fiscal performance

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AK&M 20 February 2021 22:21

The Ministry of Finance has prepared a draft law aimed at improving the tax system efficiency, the collectability of taxes and the tax administration, the Ministry of Finance informed.

The draft law expands the list of types of income earned by foreign companies received from Russian sources that are subject to taxation.

A reduction factor shall apply to the MET for companies extracting tight natural gas reserves from the deposits of the Berezovskaya formation similar to the tax incentives offered to companies developing Turonian deposits.

Besides, it is proposed to annually adjust (increase) excise taxes by the inflation rate of 4% in 2024.