Russian finance minister on scrapping oil export duty

Russian finance minister on scrapping oil export duty

Russian finance minister Anton Siluanov proposed scrapping the country's oil export duty from 2022-2025 as the government looks to optimise the tax system for the oil and gas industry.

Speaking at an economic conference in Moscow today, Siluanov also said that Russia's state budget revenues from oil and gas taxes would decline by 1% of gross domestic product by 2025.

Siluanov noted that his ministry's goal is not to raise tax burden by avoiding higher expenditure commitments, Reuters reported.

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