Russia: Government Delays Decision on Tax Breaks for Tatneft
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Thursday, 17 November 2011 |
Russian Authorities have postponed a decision on giving tax breaks to Tatneft after it suffered losses from a new tax regime. Sergei Shatalov (pictured), a deputy finance minister, told reporters that “we will be back to this issue in Spring”, referring to the company’s request for compensation arising from a new tax system for crude exports. Shatalov added that the Government had not supported the idea thus far.
Seperately, Tatneft has reported strong profits of 47.8bn Roubles from the first nine months of 2011, an increase of 180% on the same period last year. Revenues grew by 25.3% to 229,459m roubles.
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