Add to favorite
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS

Russian Government Entered into an Amicable Agreement With Exxon Neftegas Limited
September 15, 2017 08:17


 The Russian government entered into an amicable agreement with the subsidiary structure of Oil and Gas Corporation of the USA, ExxonMobil - Exxon Neftegas Limited - as part of the product-sharing dispute under Sakhalin-1 Project.

The instruction signed by Prime Minister, Dmitry Medvedev, is posted on the official portal of legal information. In turn, TASS informs that on behalf of Russia the amicable agreement was signed by the Minister of Finance, Anton Siluanov, since the initiative to reconcile with the "daughter" of ExxonMobil came from the Ministry of Finance.

The lawsuit against Russia was filed in April 2015. The essence of the dispute is to reduce the rate of income tax from 35 to 20 percent. The taxation conditions for Sakhalin-1 Project are set by the production sharing agreement and have the status of law. Therefore, the Russian tax authorities refuse to levy 20 percent tax on profits provided by the current Tax Code, referring to the fact that under the conditions prescribed in the document, the rate is 35 percent.

Therefore, any amendments to the agreement can be made only by a court resolution.


Author: Anna Dorozhkina


Next Previous

You might also find interesting:

Moscow Ecocentre Will Build Hiking Trails For Kurilsky State Reserve Buzz Barometer: China Admires Russia's Leader - WSJ Sportsmen switch countries to get Olympic medals Vitaly Orlov Entered the Bloomberg Billionaires Index Ranking Bashar al-Assad Thanked the Russian President

comments powered by Disqus

Comment on our site

RSS   twitter   facebook   submit

Bookmark and Share

Russian Parliament in Action

search on the map
Wings of Russia  Tourist Attractions  Moscow cinemas  Maya Kristalinskaya  music  Arctic  White Square Award  Russian tourism  Miss Tourism   Yoko Ono  Russian oil  Natalia Osipova  Theatre Festivals  Chukotka  Towers   Sergey Prokofyev  Moscow planetarium  Russian Cinema  Art Auctions  Maksim Sukhanov  Painting  invest  Mercedes-Benz Fashion Week Russia  Moscow Zoo  Sculptures  fashion designer  Exhibitions in Moscow  Russian circus  Victor Pivovarov  Winter Sports  Series  Russia-China  Russian physics  International space station  Russian Literature  Russia international  Moscow  Cars  Sergei Rachmaninoff  technology  Archeology  Russian history  Malyuta Skuratov  Russian laws  Environmental Protection  Russian regions  Russian business  business  Dmitry Bychkov  Russian Premier League 

Travel Blogs
Top Traveling Sites