28.1 C
Sunday, September 25, 2022

Why is a NASA Spacecraft Crashing Into an Asteroid?

https://ift.tt/cHRG9kP the first-of-its kind, save-the-world experiment, NASA...

As Shelters Fill, New York City Weighs Tents to House Migrants 

https://ift.tt/7aC0NlS York City's mayor says he plans...

Russia mulls windfall tax on energy exporters

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 and fertilizers, Kommersant says. The bulk of the money is expected to come from energy major Gazprom, the daily adds.

According to recent estimates, Gazprom’s export revenue doubled this year, propelled by surging natural gas prices which offset a sanctions-related drop in supplies to the EU.

READ MORE: Value of Russian gas exports to EU doubles – think tank

Last month, the company revealed it earned $41.75 billion in net profit in the first half of 2022 alone compared to $29 billion for the whole of 2021.

For more stories on economy & finance visit RT’s business section

https://ift.tt/d2JhLZW 20, 2022 at 05:18PM
from RT – Daily news

Support Us

Secured by Paypal

Related Stories

Check out other tags:

Most Popular Articles