Finance Ministry has released a draft document outlining a series of tax
break proposals for oil and gas industries as part of its fiscal policy strategy
The draft document, to be reviewed by the Russian government on April 3,
includes proposals to cut the mineral extraction tax, change excise duties on
high quality oil products and introduce tax breaks for exploration on the
continental shelf, The Guardian reports.
Alexei Kudrin, the Russian Finance Minister, whose ministry is in charge of
tax policy, signalled last week he would propose a cut to the mineral extraction
tax by lifting the non-taxable threshold to $US15 (?7.5) a barrel from the
The increase will result in a much sought after break in the heavily taxed
$US4.20bn-a-year industry, which accounts for about 0.25% of Russia’s projected
2009 gross domestic product.
HMRC has won its tenth successive case against tax avoidance schemes promoted by NT Advisors. The Court of Appeal has ruled that NT ... read more
HMRC is continuing to ramp up the number of raids on premises it carries out as part of criminal investigations, searching 761 properties in the last year
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said
Since the release of HMRC’s plans for digital tax reforms, many have agreed with the call for a delay