International news within the industry of mining and metal, Nov, 15 2018
Latest News

Russia scraps mining taxes

Miner in daylight, again. Photo: Creative Commons, credit: Tunaolger
Miner in daylight, again. Photo: Creative Commons, credit: Tunaolger
Published by
Markku Björkman - 22 Aug 2018

The Russian government scraps a proposal for a tax on mines and metal companies that would raise the equivalent of SEK 70 billion to the state - at least for the moment.

The timing is not right and corporate debt is not the best, industrialist Denis Manturov justifies the withdrawal of the tax proposal recently submitted to President Vladimir Putin.

The background to the original tax proposal is that the Russian state needs to withdraw more money. Other proposals on the table are the height of VAT next year and the height of retirement age.

Source: TT/Metaller&Gruvor