Companies in Russia engaged in oil and gas extraction are subject to several types of fees.
Companies in Russia engaged in oil and gas extraction are subject to several types of fees:
- the CIT tax whose base value is 20 percent. There is a possibility of lowering this tax via national institutions to 15.5 percent, not lower.
- export duty - its value (in USD per barrel) is calculated every month by the Russian government on the basis of the price changes on oil international markets; its value increases along with rising listings and vice versa. Oil export from some of the fields and export of the LNG liquid natural gas is subject to zero export duty; however, export of the "traditional" natural gas from Russia is subject to the 30 percent permanent export duty.
- the extraction of natural resources tax - for oil is 470 RUB/t, corrected by special factors, bearing in mind the price of the Russian oil on the international markets recalculated into rubles and the maturity of the resource; for natural gas the tax amount is 582 RUB/1000 cubic metres; tax can be deducted from the tax base for CIT purposes; there are certain regions and deposits which are subject to correction of the base tax from the natural resource extraction due to the performed work.
Taxing oil and gas extraction in Denmark depends on when the entity has been granted permission to conduct work.
The Netherlands system of taxing carbon oxide extraction is composed of several elements.
Norway taxes the company's income from the extraction of carbon oxides.