Kudrin Says Russian Oil Companies to Pay $15 Billion More Tax
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Russian oil companies may pay $15 billion more in taxes because of new rules adopted by Russia’s Customs Union with Kazakhstan and Belarus, Finance Minister Alexei Kudrin said.
Russia plans to abolish export duties for oil and oil products sold to the Customs Union countries, while instituting higher levies on oil-products exports from Belarus, Russia and Kazakhstan, he told reporters in Moscow today. Russian companies will be compensated for the higher overall level of export duties they’ll incur as a result, he said.