Evaluation of the Oil Fiscal Regime in Russia and Proposals for Reform

By Brenton Goldsworthy, Daria V Zakharova

February 1, 2010

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Format: Chicago

Brenton Goldsworthy, and Daria V Zakharova. Evaluation of the Oil Fiscal Regime in Russia and Proposals for Reform, (USA: International Monetary Fund, 2010) accessed December 21, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

Oil revenue plays a central role in Russia's economic development. Thus, the recent decline in oil production and investment, and the possible contribution of the current fiscal regime to these developments, have prompted a reassessment of the oil tax system in Russia. Some important changes have already been made, while others are underway. This paper uses a simulation model to evaluate Russia's current oil fiscal regime. Based on these simulations, the paper proposes ways to make the fiscal regime more supportive of investment, while ensuring an appropriate share of oil sector profits for the government.

Subject: Commodities, Corporate income tax, Oil, Oil prices, Oil production, Prices, Production, Taxes, Transfer pricing

Keywords: Corporate income tax, Cost project, Global, Hurdle price, Income tax, Oil, Oil and gas taxation, Oil price, Oil prices, Oil production, Oil revenue, Payback period, Project cost, Stochastic price model, Tax rate, Transfer pricing, Transportation cost, Urals blend price, WP

Publication Details

Pages:

30
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2010/033
Stock No:

WPIEA2010033
ISBN:

9781451962703
ISSN:

1018-5941

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