The modified mining law given to the Duma for consideration differs from the original text.
The mining law submitted to officials for review less than a month ago (April 29, 2022) has undergone several alterations. The tax amnesty for mining companies was recommended to be removed from the law, as was the concept of creating a separate register of miners. The government budget will benefit from this.
According to the amended version of the law, registering as an individual entrepreneur or self-employed is sufficient to perform mining activities. In addition, businesses must follow a specified registration procedure.
The promised one-year tax amnesty will not be implemented. The tax breaks would only apply to the customs clearance of mining equipment, and revenues earned when the law was implemented in 2022.
Remember that the new Russian mining tax law should be passed before the conclusion of parliament’s summer session.