On September 19,  2008 Holiday Inn (Moscow) will host the business seminar on natural resources production tax for oil producers. The seminar will be chaired by the partner of the law company “Nalogovaya Pomoshch”, Sergey Shapovalov. Among the invitees there will be the major Russian natural resources production tax specialist who is also head of the mineral resources production taxes office of the Taxes and Tariffs Policy Department of the Russian Finance Ministry, Mikhail Yumaev.  

 

Issues to be covered by speakers will go beyond a standard set of theoretical problems and will include practical situations. The proposed solutions have not been used in judicial practice yet, while tax authorities offer solutions that are most unfavorable for tax payers.   

 

The seminar program includes 5 hours.  The issues to be discussed include the following:

 

.         What oil production is considered as natural resource production?

.         Legal implications of net oil considered as natural resource production.

.         Taxes on gas condensate that is present in oil.

.         Taxes on widely spread natural resources. 

 

.         Direct and indirect methods of oil volume measuring.   

.         What is to be done with “direct-indirect” and “indirect-direct” methods? 

.         Taxpayers approved of the indirect methods, but uses the direct one. Changing of the mistakenly chosen method.

.         Quantity determination method and quantity measurement method – are these synonyms?

.         Time of quantity determination.

.         Taxation of return.

.         What is the final stage of oil production? Is oil refining a production operation?  

 

 

.         Loss allowance with the indirect methods.

.         The notion of  actual loss.

.         The new order of use of loss allowance.

.        Taxpayer failed to submit documents for loss allowance approval for next year. What are the consequences for the taxpayer? Can he use the last-year allowance? 

 

4. “New” oil production privileges (tax privileges for East Siberian province, super viscous oil production and depleted fields):

.         Conditions for their use.

.         What is “direct metering of oil from a particular area”? Tax authorities consider direct metering as the synonym of direct methods of quantity determination.

.         The degree of depletion should be determined through direct oil metering method.

 

.         Slop products.

 

.         Selling prices.

.         Production of several types of natural resources.

.         Which of the four interpretations of par. 4, art. 340  of the RF Tax Code is the correct one? The ruble difference between the variants can be as follows:

 

 

The range of issues is not limited to the above. In particular, we hope that the invited specialist will tell us about the planned amendments to article 26 of the RF Tax Code.   We are ready to answer your questions sent to the email or fax: