Russian President Vladimir Putin has signed the federal law "On Amendments to Part Two of the Tax Code of the Russian Federation and Certain Legislative Acts of the Russian Federation." This is reported on the Kremlin's website.
In accordance with the law, an increased corporate income tax rate of 40% is established for companies transporting oil and petroleum products through the main pipeline system.
Starting from January 1, 2028, a zero MET tax rate is established for the extraction of hard-to-recover gas reserves of combustible natural and gas condensate from hydrocarbon deposits classified as Achimov and Jurassic productive deposits on the Yamal Peninsula in the Yamalo-Nenets Autonomous Okrug.
The law clarifies the procedure for determining the price of Urals oil, used for the purposes of calculating excise duty, tax on additional income from the extraction of hydrocarbons and tax on the extraction of minerals in transactions with petroleum raw materials.
