Russia May Consider Arctic Tax Benefits for Miners: Kommersant

Feb. 20, 2020, 5:11 AM

Russia’s Union of Industrialists and Entrepreneurs submitted to Prime Minister Mikhail Mishustin a proposal on wide-scale tax breaks for Russian miners operating in the Arctic, Kommersant reports citing the Union’s press office and the letter to PM.

  • The union proposes introduction of production-tax breaks for new Arctic mining projects as well as regional projects with depleting or hard-to-recover reserves
    • The proposal also lifts limits on income-tax break, lowers the cap for the regional part of the income tax to 7% from the current 17.5% and raises the tax breaks for investments in exploration
  • Russia’s lawmakers aim to add mining-tax breaks ...

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