Moscow: Russians using Russian-made equipment on the Russian shelf will get tax relief. A bill facilitating oil exploration is on its way and will be finalised in a couple of months, Kommersant reports. The move is made to kickstart the Russian offshore manufacturing sector in the wake of sanctions against the world’s largest country.
Meanwhile, the government has started preparing a proposal on how to cut tax obligations for the nation’s oil companies.
Both federal and local level politics are involved in the process, including four ministries.
This could significantly reduce taxation on oil and gas exploration for the companies, which apply Russian-made technology.
