The estimated losses of the Russian budget due to cheap oil

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www.vsyako.netPhoto: Igor Ivanko / “Kommersant”

The Ministry of Finance estimated losses of the Russian budget from-for cheap oil. This was announced by Deputy Finance Minister Alexei Sazanov, in an interview with Reuters.

By the end of 2020, the Treasury will be reduced by about two trillion rubles. According to authorities, from January to June 2020 budget has already lost $ 700 billion.

According to Sazanova, due to the introduction in Russia of the added tax income (JPM) budget lost us $ 213 billion in 2019. The amount, according to him, comparable to the cost of tax breaks for the victim of the pandemic, small and medium business for two quarters. Carp added that the new tax regime was the biggest mistake in his career.

PDM brought in pilot mode in 2019 for new and depleted fields to increase profitability of development and investment in production. Added tax income unlike the tax on mineral extraction (met) will be charged with the amount of oil produced, and income from the sale of the raw material minus marginal cost of extraction and transportation. Sazanov said that the Finance Ministry has drafted a bill to eliminate the shortfall in income in the future and to compensate for the loss. The Agency will not insist on the abolition of PDM, but will try to eradicate his flaws.

Video, photo All from Russia.

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