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Amendments to Tax Code relating to valuation of concentrates and other intermediate products

February 28, 2025

Vladimir Putin signed Federal Law On Amendments to Article 340 and Article 342, Part 2 of the Tax Code of the Russian Federation.

The Federal Law sets the mineral extraction tax rate at six percent for concentrates and other intermediate products which contain one or more precious metals.

In addition, it specifies the procedure for assessing the value of concentrates and other intermediate products containing one or more precious metals on the basis of the sum of products of the amount of each chemically pure precious metal contained in the concentrate or intermediate product, and its average price on the world market over the tax period.

February 28, 2025