Russian Prime Minister Vladimir Putin ordered the government on Wednesday to complete work on a new oil company taxation system by spring.
"The tax discussion has been dragging on for far too long. It does not allow companies to work out long-term development strategies and plans," Putin told a cabinet meeting on energy sector goals for 2011.
"This is why I am ordering the government to work on industry taxation issues urgently and present possible scenarios for discussion by a government fuel and energy commission. It must be done in the nearest future, and the work must be completed in the spring."
The government is discussing taxation systems for newly launched and depleting wells, different mineral extraction tax levels and bringing export duties on light and dark oil products to the same level.
Energy Minister Sergei Shmatko said the new taxation scheme would be presented to the government in the first quarter of 2011.
"We are working out and approving the new taxation scheme, primarily taking into consideration geographical and geological conditions of field development," Shmatko said.
ST. PETERSBURG, February 9 (RIA Novosti)
