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The mineral extraction tax and the customs duty on oil export are basic elements of the fiscal policy for the oil-extracting companies operating in Russia. The volume of these payments is strictly connected with the average level of exchange prices of Urals brand oil during the corresponding month. In the conditions of intensive oil prices reduction this circumstance led to essential losses of the federal budget incomes. The aim of this work consists in the characterization of the oil-extracting companies taxation...

The article describes the changes in the taxation system for oil companies introduced within the period of 2002 - 2016. It is indicated that introduction of tax exemptions was due to decrease in the economic efficiency of oil production due to the growth of the tax burden. The important role of tax exemptions for mineral extraction tax (MET) is considered to be important for stimulating the growth of hydrocarbon production. Amendments to the Tax Code of the Russian Federation, expanding the list of privileges on t...