Source Pravda.Ru

Finance Ministry Proposes to Raise Gas Export Duty

The Finance Ministry of the Russian Federation proposes to raise gas export duty from 5 to 20 dollars per 1,000 cubic meters beginning 2004, Finance Minister Alexey Kudrin told reporters today. Today, the Ministry has submitted an adjusted proposal concerning tax reforms to the government where it suggests to abolish gas excise duty and have its burden split between the natural resources tax and export duty beginning 2004. In particular, gas export duty will go up from 5 to 20 dollars per 1,000 cubic meters and the natural resources tax will increase to 193 rubles per 1,000 cubic meters.