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Evaluation of the Oil Fiscal Regime in Russia and Proposals for Reform


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  • Brenton Goldsworthy
  • Daria Zakharova
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    Oil revenue plays a central role in Russia''s economic development. Thus, the recent decline in oil production and investment, and the possible contribution of the current fiscal regime to these developments, have prompted a reassessment of the oil tax system in Russia. Some important changes have already been made, while others are underway. This paper uses a simulation model to evaluate Russia''s current oil fiscal regime. Based on these simulations, the paper proposes ways to make the fiscal regime more supportive of investment, while ensuring an appropriate share of oil sector profits for the government.

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    Bibliographic Info

    Paper provided by International Monetary Fund in its series IMF Working Papers with number 10/33.

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    Length: 30
    Date of creation: 01 Feb 2010
    Date of revision:
    Handle: RePEc:imf:imfwpa:10/33

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    Postal: International Monetary Fund, Washington, DC USA
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    Keywords: Economic models; Natural gas sector; Oil production; Oil revenues; Oil sector; Resource mobilization; Tax systems; taxation; oil field; fiscal regime; oil and gas; tax burden; oil fields; crude oil; oil prices; fiscal regimes; tax base; tax system; tax rates; gas sector; government revenue; oil and gas sector; oil & gas; oil reserves; fiscal policy; fiscal instruments; tax revenue; petroleum taxation; budget law; taxable income; refined products; high tax burden; tax administration; fiscal factors; tax payments; million barrels per day; annual budget; tax avoidance; gas taxation; tax credits; oil industry; million barrels; world oil prices; fiscal objectives; tax liability; oil extraction; fiscal affairs; oil development; fuel oil; productive wells; withholding taxes; fiscal affairs department; oil supply; pipeline capacity; oil pipelines; global oil production; crude oils; national oil; petroleum oil; gas companies; fiscal health; fiscal affairs departments; fiscal stability; withholding taxes on interest; gas exports; fiscal policy formulation; budget deficit; crude oil production; oil companies; public finances; fiscal stimulus; tax policy; oil-producing countries; economic stability; energy information administration; opec; tax authorities; tax authority; petroleum sector; oil exports;

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    Cited by:
    1. Andrei STOIAN & Radu BECHERESCU, 2013. "Financial Crises Of The Last Two Decades And The Issues To Be Addressed," SEA - Practical Application of Science, Fundația Română pentru Inteligența Afacerii, Editorial Department, Fundația Română pentru Inteligența Afacerii, Editorial Department, issue 1, pages 200-211, June.
    2. repec:cmj:journl:y:2013:i:27:stoiana,becherescur is not listed on IDEAS


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