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The state duma committee on budget and taxes recommended that the lower house of parliament adopt in the first reading a bill that introduces a 6% mineral extraction tax rate for all concentrates and semi-finished products containing one or more precious metals. the document was initiated by the russian government. when calculating mineral extraction tax for concentrates containing both gold and silver, as well as platinum group metals, different mineral extraction tax rates of 6% or 6.5%, as well as different values of the rent coefficient krenta equal to 1 or 3.5, cannot be applied to the tax base (the cost of the extracted mineral), the cabinet of ministers notes.
In addition, the ambiguous interpretation of the provisions of paragraph 5 of article 340 of the tax code of the russian federation leads to legal disputes between taxpayers and tax authorities on the issue of using reduction factors to world prices of precious metals when determining the cost of a unit of chemically pure metal for the purpose of calculating mineral extraction tax.
In order to eliminate contradictions in the legislation, the draft law provides for an assessment of the cost of concentrates and other semi-finished products containing one or more precious metals, based on the sum of the products of the quantity of each precious metal contained in the concentrate or semi-finished product and their average prices on the world market for the relevant (in rubles per gram, which takes into account industry specifics), as well as establishing a tax rate for mineral extraction tax of 6% for all concentrates and other semi-finished products containing one or more precious metals, the explanatory note says. it is also noted that the specified cost of concentrates and other semi-finished products containing one or more precious metals is determined on the basis of average prices on the world markets for precious metals, calculated by the federal executive body and posted on its official website on the internet, which will require the adoption of a corresponding regulatory legal act by this authority.
