The Energy Ministry has proposed raising taxes on oil products and reducing duties on crude oil, potentially earning an extra 8.55 trillion rubles ($286 billion) for the state over 10 years, Vedomosti reported Tuesday.
LUKoil, Russia’s second-largest oil producer, said profit in the second quarter fell 16 percent from the same period last year as taxes and costs climbed more than crude prices.
The government wants to ensure tax policy equality for businesses and create a more attractive investment environment by the amendment of the Law on Corporate Income Tax
U.S. President George Bush rejected the federal gasoline tax raise to repair the nation's bridges at least until Congress changes the way it spends highway money because Mr. Bush is not satisfied with how Transportation committee members "prioritize the people's money"
The Energy Ministry has proposed raising taxes on oil products and reducing duties on crude oil, potentially earning an extra 8.55 trillion rubles ($286 billion) for the state over 10 years, Vedomosti reported Tuesday.
Senate Democrats on Thursday proposed repealing a tax break for some major oil companies, including BP Plc, effective December 31.
