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05 Jan

Russia zeroes mineral extraction tax for hydrogen production

Russia has established from 1 January a zero rate of mineral extraction tax (MET) for the extraction of gas used exclusively for the production of ammonia and hydrogen, Kallanish notes. The new law applies to the subsoil areas located wholly or partially on the Yamal and Gydansky peninsulas in Yamalo-Nenets Autonomous Okrug. In addition, corporate income tax benefits have been established for ammonia and hydrogen producers. This is, in particular, for taxp…
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