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The Ministry of Finance offered tax incentives for the project "The Power of Siberia"
The Russian Ministry of Finance has prepared a draft law on tax breaks for the project of gas supplies to China via the Power of Siberia gas pipeline. This was reported by "Interfax" with reference to a source in the relevant department. The bill was made in the form of amendments to the draft federal law N605370-6 "On amendments to the Tax Code of the Russian Federation".
According to the document, the severance tax is to be reset during the first 15 years of mining, which are fully or partially located on the territory of the Irkutsk Region and Yakutia. In the period from 16-th to 24-th year of the development of the field is supposed to flatten the tax rate.
A zero tax rate is also established for the period until 2035 in respect of real estate objects of main gas pipelines and facilities that are their integral technological part, gas production facilities, production and storage facilities for helium, the construction of which is currently being carried out as part of the Power of Siberia project.
Power of Siberia is a gas transmission system that involves the transportation of gas from the Yakutsk and Irkutsk gas production centers to China, as well as to Russian regions. Construction was launched on September 1 with the participation of Russian President Vladimir Putin.
The contract between Gazprom and the Chinese CNPC for the supply of gas through the gas pipeline was signed on May 21, 2014. The gas pipeline's capacity will be 38 billion cubic meters. meters of gas per year with the possibility of increasing to 64 billion cubic meters. m per year. Its total length will be 4 thousand km.