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Oil production taxation in Russia and the impact of the tax maneuver

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  • Vadim V. Ponkratov

Abstract

The author reflects on the current taxation of oil production in Russia, the mechanisms and effects of the tax maneuvers taken in 2013-2014 in the oil industry. In the near future, members of the Customs Union will draw up a unified policy in the area of fuel and energy complex and harmonize the system of export custom duties on oil and petrochemical products. The author formulates proposals for improving the tax system of oil production in Russia, taking into account its developmental prospects, the existing resource restrictions, as well as significance for the budget.In 2011-2014, the Russian Government paid special attention to the issue of improvement of MET,but the latest innovations entail domination of the fiscal function of this tax. The situation in the oil sector demands the opposite – there is a growing need for investments into the development of oilfields in new oil and gas provinces, and the development of transport and refinery capacities. While working out the concept of taxation of crude hydrocarbons extraction, the following approaches should be used: taxation of end results of companies’ performance; stimulation of the rational use of natural resources and the fullest extraction of the main and associated components; economic and budgetary efficiency; simplicity of administration. Suggestions are made about how to improve the Russian system of taxation of extraction of crude hydrocarbons with regard to such taxes as MET,income tax, export duty, and royalties.

Suggested Citation

  • Vadim V. Ponkratov, 2015. "Oil production taxation in Russia and the impact of the tax maneuver," Journal of Tax Reform, Graduate School of Economics and Management, Ural Federal University, vol. 1(1), pages 100-112.
    • Handle: RePEc:aiy:jnljtr:v:1:y:2015:i:1:p:100-112
    DOI: http://dx.doi.org/10.15826/jtr.2015.1.1.007
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    References listed on IDEAS

    as
    1. Garnaut, Ross & Clunies-Ross, Anthony, 1983. "Taxation of Mineral Rents," OUP Catalogue, Oxford University Press, number 9780198284543, Decembrie.
    2. repec:ces:ifodic:v:11:y:2013:i:2:p:19092429 is not listed on IDEAS
    3. Julian Dieler, 2013. "Evolution of Oil Taxes: an International Perspective," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 11(2), pages 53-54, 07.
    4. Julian Dieler, 2013. "Evolution of Oil Taxes: an International Perspective," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 11(02), pages 53-54, July.
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