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New privileges are offered for the discovery of deposits in the Far East - EastRussia | Far East

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New discoveries are offered for the discovery of deposits in the Far East

The head of the Ministry of Energy Alexander Novak made a proposal to provide new benefits for mineral extraction tax to subsoil users who opened fields in the Far East and Eastern Siberia

New discoveries are offered for the discovery of deposits in the Far East

According to the Ministry of Energy, this will allow to stimulate geological exploration in remote eastern regions of Russia, Interfax reports.

"The Ministry of Energy proposed to consider an opportunity to stimulate geological exploration. In my report, I announced some innovations in terms of taxation, which would make it possible to use both existing benefits more efficiently, and it is possible to consider new benefits. Today, the legislation provides, for example, the provision of benefits for new deposits from 7 to 15 years from the date of issuance of the license. Taking into account that today, due to a decrease in investment activity and a lack of access to financial markets to the extent necessary to implement the projects, the companies made decisions in two years to shift the right to the implementation and commissioning of individual fields, including, , To correct this mechanism, "he said.

“We offered to correct and provide the opportunity to use this benefit not from the moment of issuing the license, but from the moment of the start of work already on the field and the depletion of at least 1%,” said the Minister. “We also offered others mechanisms for stimulating geological exploration in the Far East and Eastern Siberia, that is, in little studied geological areas, to give an opportunity to those companies that work there, in case of discovery of deposits, to consider the possibility of providing them with MET benefits. In our opinion, these are very good benefits, which do not give a decrease in revenues to the budget, but rather encourage companies to invest in exploration and receive new additional income from the discovery of a field, ”A. Novak said.