This article is from the source 'rtcom' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.rt.com/business/531403-putin-raise-tax-metal-producers/
The article has changed 3 times. There is an RSS feed of changes available.
Version 1 | Version 2 |
---|---|
Moscow to raise tax on metal mining firms in 2022 to tackle raw material shortage – Putin | Moscow to raise tax on metal mining firms in 2022 to tackle raw material shortage – Putin |
(2 months later) | |
Russian authorities will raise a mineral extraction tax (MET) on metals producers next year to tackle shortages of metal produce in the domestic market, President Vladimir Putin said. | Russian authorities will raise a mineral extraction tax (MET) on metals producers next year to tackle shortages of metal produce in the domestic market, President Vladimir Putin said. |
“Starting from the next year, from January 1, I think, new higher taxes on mineral extraction will be imposed. This concerns the metals industry,” Putin said during a meeting with construction workers. | “Starting from the next year, from January 1, I think, new higher taxes on mineral extraction will be imposed. This concerns the metals industry,” Putin said during a meeting with construction workers. |
He added that the shortage of raw materials has been caused by a worldwide spike in the price of metals. | He added that the shortage of raw materials has been caused by a worldwide spike in the price of metals. |
Earlier this month, Deputy Finance Minister Aleksey Sazanov said that the Kremlin was considering a proposal to peg an MET levied on metals producers to the global price of their products from 2022. | Earlier this month, Deputy Finance Minister Aleksey Sazanov said that the Kremlin was considering a proposal to peg an MET levied on metals producers to the global price of their products from 2022. |
The idea to withdraw excess profits from metal-mining firms was first introduced in July, and followed the government’s decision to impose temporary export tariffs on sales of ferrous and non-ferrous metals such as copper, nickel, aluminum, and metal products. The tariffs came into force on August 1, and will remain in effect until the end of the current year. | The idea to withdraw excess profits from metal-mining firms was first introduced in July, and followed the government’s decision to impose temporary export tariffs on sales of ferrous and non-ferrous metals such as copper, nickel, aluminum, and metal products. The tariffs came into force on August 1, and will remain in effect until the end of the current year. |
For more stories on economy & finance visit RT's business section | For more stories on economy & finance visit RT's business section |