At the Moscow Financial Forum the session on “Fiscal initiatives: oil and gas industry adaptation to operating new conditions” was held.

Participants discussed price stabilization in the domestic market, completion of tax maneuver and transition to rent taxation.

According to Alexey Sazanov, Director of the Tax and Customs Policy Department of the Ministry of Finance of the Russian Federation, when the completion of tax maneuver was planned, the Ministry was guided by three strategic aims: to remove subsidies from oil processing, to abandon the inefficient benefit mechanism for the export duty and to provide additional income for the budget.

"Our satisfaction with the maneuver is about 70 percent, next year we expect a decrease in oil refining, two-thirds of the factories will not receive a negative excise," said Alexey Sazanov.

In addition, Director of the Department noted that in the ensuing year the export duty procedure will be abolished and the budget revenue will be 6 trillion rubles.