The Ministry of Finance of Russia discussed at a meeting with representatives of metallurgical companies and producers of mineral fertilizers to change the taxation, reports TASS with reference to the source. The main option for the development of events agency considers an increase in mineral extraction collection (NDPI) to six percent and binding it to world prices for raw materials.
NDPI size is proposed to be determined based on the exchange quotations of ore or metallurgical concentrate, without binding to the cost of companies. On September 16, the Ministry of Finance will submit its proposal to the Russian Prime Minister Mikhail Mishustina, the agency’s interlocutor said.
At the end of May, the first Deputy Prime Minister Andrei Belousov accused the metallurgists in the “fattening” of the state for 100 billion rubles due to the increase in prices in the domestic market from the beginning of the coronavirus pandemic. The official said that companies should return the received superbid to the budget in the form of taxes.
The government introduced customs duties on the export of raw materials from August 1 to December 31, 2021. It is assumed that it will bring the execution of 113 billion rubles. In July – the last month before the introduction of duties – the export of ferrous metals from Russia grew by 94 percent compared with June.
At the end of August, it became known about the plans of the authorities to increase the NDPI bet for metallurgical companies and fertilizer manufacturers. Later, at a meeting with Belousovoy Metallurgi, they were offered to increase the income tax instead of increasing NPPI, since otherwise it will be unprofitable to invest in complex projects with a small content of metals.