Russia’s oil companies face a major battle with the finance ministry, which wants to claw back revenue lost from the pilot application of upstream proft-based taxation. The ministry has drafted tax code amendments that would allow the govern- ment to recover 87.8bn roubles ($1.2bn) in 2021 and Rbs55.6bn in 2022. These “will, to one degree or another, afect all types of felds where the tax model is applied”, the ministry says. The bill has been discussed with oil firms.
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