The Russian Ministry of Finance may again increase the mineral extraction tax (MET) on coal to compensate for lost federal budget revenues after the removal of the exchange rate export tax. writes about this “Kommersant”.
The publication notes that it is still unclear exactly how the mechanism for increasing the mining tax will be structured. There was no comment from coal companies.
Over the past few years, Russia has increased the tax burden on coal miners several times. Thus, in 2022, the sector’s tax revenues doubled and reached 360 billion rubles.
In 2023, mining taxes for anthracite, coking coal and thermal coal were increased. The measure was temporary and was in effect from January 1 to March 31. This was expected to attract an additional 30 billion rubles to the budget.
In the autumn, coal, along with other goods, was subject to an export duty of 4-7%, depending on the ruble exchange rate.
December recognized About China’s plans to reinstate import duties on Russian coal.
Previously Russia guess decrease in coal production.