Windfall tax for major companies to be introduced in Russia

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05.02.2024
FOR LARGE OIL PRODUCERS, SIMPLIFIED PROCEDURE TO BE EXTENDED FOR OBTAINING THE RIGHT TO USE SUBSOIL FOR THE PURPOSE OF EXPLORATION AND EXTRACTION OF GROUNDWATER

Until the end of 2024, large oil producers shall be allowed not to submit a copy of the annual accounting report in order to obtain the right to use subsoil for exploration and extraction of groundwater in areas not classified as subsoil plots of local significance, for the geological survey of such areas for the purpose of prospecting, evaluation, survey and extraction of groundwater.
 

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