The Russian Energy Ministry plans to prepare a new plan for a taxation system for the oil industry in the first quarter of 2011, Energy Minister Sergei Shmatko said on Wednesday.
"A new oil industry taxation system concept will be submitted for approval by a government commission on the fuel and energy industry, mineral resources replacement and energy efficiency in the economy in the first quarter of 2011," Shmatko said.
In October, Russian Prime Minister Vladimir Putin said final proposals on the new taxation system should be submitted to the State Duma lower house by summer 2011 and agreed before the end of the next year.
Shmatko said the implementation of the new taxation system should not impede the development of offshore fields.
"A reduced export customs duty, which will regulate the distribution of added value between the investor and the state, is an effective targeted measure here," he said, adding the measure had been successfully used when developing North Caspian oilfields.
MOSCOW, December 8 (RIA Novosti)
