Russia wants to reduce the export tax on crude oil and petroleum products to zero.
The Russian government passed the decree twice successively in July and August 2018 to reform the taxes of its domestic oil industry. The general principle is to reduce the export tax on crude oil and petroleum products until to zero, and increase the oil exploitation tax in equal amounts. Although this tax reform will increase the price of domestic refined oil products in Russia in the short term, and the new tax refund system and dumping factor will make its oil tax system more complicated, in the long run, the new tax system will help increase government revenue and the competitiveness of Russian oil in the international market, can also promote the upgrading of its domestic refining industry, which does more good than harm to both the Russian government and the oil industry. I. Elimina
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