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Vladimir Putin signed Federal Law On Amendments to Parts One and Two of the Russian Federation Tax Code and Certain Legislative Acts of the Russian Federation in Connection with Implementation of Tax and Customs-Tariff Measures to Encourage Oil and Gas Production on Russia’s Continental Shelf.
The law sets out tax and customs tariff incentives for organisations carrying out investment projects in offshore oil and gas production within Russia’s internal marine waters, territorial waters, continental shelf, or in the Russian sector in the Caspian Sea.
The law makes amendments to the Federal Law On the Russian Federation’s Continental Shelf in the aim of improving legal regulation of relations related to establishing, operating and using artificial islands, installations and constructions on Russia’s continental shelf.
September 30, 2013