Russia is considering longer-term measures to grab a bigger slice of mining companies’ profits once a temporary export tax finishes at the end of this year, according to people familiar with the matter.
Officials are now mulling changes to mineral extraction taxes, with rates likely linked to raw-material prices so that levies rise when the market does, the people familiar with the matter said, asking not to be identified as the information isn’t public. That would probably replace export taxes from 2022, with a final decision taken after parliamentary elections in September. Other options of tapping mining profits may still be discussed, they said.
“Regulating the market through a mineral extraction tax would be less painful for the metals industry and the global market, as it may be more predictable,” said Kirill Chuyko, an analyst at BCS Global Markets. The “export tax was unexpected and affected markets like aluminium, where price premiums increased.”
Why should the old and innocent go hungry because goverment cannot manage rioters and ppl with no redoect for the law
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Treasury yet to be approached over EOH blacklisting after Sita moveState agency has intimated it will consider restricting company from doing business with the state Why Eob are not going to jail Nice White Privilege The Treasury should send a strong message to Big Budiness that it is no longer tolerating white collar crimes . This should be a first step towards the prosecution of ALL economic crimes
Source: BDliveSA - 🏆 12. / 63 Read more »