Russia mulls windfall tax on energy exporters ...News

The levy will target extra profits made from surging oil and gas prices The Russian government may hike taxes on excess profits made by energy exporters. The move would reportedly add an extra $50 billion to the state coffers over the next three years, business daily Kommersant wrote on Tuesday. Among the proposed steps are a hike in the export duty on pipeline gas to 50% from the current 30%, a duty on LNG exports (the industry is currently exempt from duties), higher gas prices on the domestic market and an increase in the mineral extraction tax. There is also discussion on increasing export duties on oil, coal

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