Don't touch the mineral extraction tax

Gazprom defended a tax paradise in the Kremlin

A postponed meeting with Russian President Vladimir Putin on taxation of the gas industry took place yesterday. The conversation, in which, according to Vremya Novostei, was attended by President-elect Dmitry Medvedev, Prime Minister Viktor Zubkov, Head of the Presidential Administration Sergei Sobyanin, Finance Minister Alexei Kudrin, Economic Development Minister Elvira Nabiullina, Presidential Assistant Igor Shuvalov and Chairman of the Board " Gazprom" Alexey Miller, ended with another victory for the gas monopolist. Despite the shortage of sources to replenish the budget in the event of the VAT reduction being actively discussed by the authorities, yesterday it was decided not to touch the mineral extraction tax for gas companies.

An informed source of Vremya Novostei, close to one of the participants in the meeting, says that it was short-lived and that as a result it was considered inappropriate to change the current situation with taxation of gas production. The source, however, did not explain why the issue of revising the mineral extraction tax was returned to the political agenda, but at the same time the decision to mothball the tax situation in the gas industry was confirmed. After all, at the end of February, at a similar meeting with Prime Minister Viktor Zubkov, Gazprom had already achieved the unchanged production tax rate until 2011.

The gas mineral extraction tax rate has not changed since 2006 and is 147 rubles. from a thousand cubic meters. Mr. Kudrin's attempts to raise the issue of a sharp increase in tax exemptions from gas companies have invariably encountered resistance from Gazprom. The concern fought off all these attacks, finding support at the highest political level. At first, unprofitable gas prices on the domestic market were used as arguments. After the government approved a growth schedule to achieve equal profitability by 2011, Gazprom began to focus on the company’s growing investment needs. And he proposed, based on the recommendations of experts, to freeze the mineral extraction tax rate until gas sales within the country switch to a formula that ensures equal profitability with exports to Europe. It is noteworthy that the concern has complete unanimity with independent gas producers on the issue of the gas mineral extraction tax rate. They, according to a Vremya Novostey source, convince officials that raising taxes will have a most detrimental effect on their economic efficiency.

The idea of ​​actually freezing the mineral extraction tax rate on gas, according to Vremya Novostei, was ultimately enshrined in the minutes of the meeting with Mr. Zubkov. Mr. Kudrin, who advocated a gradual increase in the mineral extraction tax to 735 rubles. in 2010, it was not possible to find allies in the government. However, when Gazprom had already celebrated its fiscal victory, Vladimir Putin unexpectedly decided to convene a meeting on the gas production tax. However, here too Gazprom managed to gain time: the discussion was initially scheduled for March 17, but at the request of Alexey Miller, who went on vacation that day, the event was postponed for a week.

The pause ultimately played into the hands of the concern - in 2009, the mineral extraction tax on gas will definitely not increase.

Alexey GRIVACH, Andrey DENISOV