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Amendments to Tax Code regarding hydrocarbons production in the Arctic

March 18, 2020

Vladimir Putin signed Federal Law On Amendments to Part Two of the Tax Code of the Russian Federation.

The Federal Law is aimed at stimulating the prospecting for, evaluation, exploration and production of hydrocarbons in the Arctic regions of Russia.

In particular, the law stipulates mineral tax incentives for companies involved in the production of hydrocarbons at new offshore deposits.

March 18, 2020