In Russia, Taxes on the Extraction of Rare Metals will Reduce
OREANDA-NEWS. The State Duma adopted in the second reading a bill aimed at stimulating the extraction of rare metals. The document was developed by the Ministry of Environment and submitted to the State Duma by the government of the Russian Federation.
In order to stimulate the extraction of certain types of rare metals that are of strategic importance, the document provides for the use of a reduction factor Krm, equal to 0.1, characterizing features of the extraction of rare metals. It can be used for 10 years from the start of mining.
The bill proposes to reduce from 8% to 4.8% the tax rate on mineral extraction (MET) used in the extraction of ores of rare metals, which form their own deposits, in which rare metals are the main components, and also of rare metals, which are by-pass components in ores other rare metals that form their own deposits, ores of other minerals, multicomponent complex ores.