Gov't to review cutting taxes for oil companies

The government board is to consider on Monday a reduction in the tax burden for the oil industry, a source close to the cabinet told journalists today. The bills are to be introduced to the State Duma during the spring session. The matter of the extension of a tax holiday to several Russian regions, as well as methods of calculation of oil production will also be reviewed during the session, the source said.

Among other tax measures to be considered before the introduction of the budget to the State Duma is income tax exemption for interest on housing loans. The government board is also expected to consider key tax policies for 2009-2011.

Source: Portnews