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Tax Policy of the State in Oil Industry as One of the Factors Ensuring Financial Security of the Russian Federation

  • E. GorbunovaEmail author
Conference paper
Part of the Smart Innovation, Systems and Technologies book series (SIST, volume 138)

Abstract

The article reviews the tax policy of the state, with taxation of the oil industry under financial crisis, sanctions imposed against Russia, and low oil prices. The subject of the research is the tax policy of the state with regard to the oil industry. The paper considers the main options of tax mechanisms proposed by the Ministry of Finance of the Russian Federation and the Ministry of Energy of the Russian Federation, as well as it analyzes the opinions of the chief executives of the largest oil companies of the Russian Federation concerning the existing taxation system for the oil industry. Special emphasis is given to the analysis of the first results of the tax reform being implemented with regard to the introduction of the tax maneuver as one of the main mechanisms of state financial security. It reasons that the implementation of the main directions of the budgetary, tax, and customs and tariff policies of the state in the oil industry, on the one hand, will provide for significant and stable tax revenues to the state budget, on the other, to maintain sufficient investments incentives in this economy sector. The principal findings of the research are that with a view to obtain beneficial results, systemic work with respect to tax reform in the oil industry is required, alongside phased transition to the added income taxation on oil companies and the abolition of export duties.

Keywords

Financial security Oil industry Tax maneuver Mineral extraction tax Added income tax 

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Copyright information

© Springer Nature Switzerland AG 2020

Authors and Affiliations

  1. 1.Department of Civil LawYugra State UniversityKhanty-MansiyskRussia

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