Page 159 - RusRPTJul24

It assessed Netherlands hydrogen produced via alkaline electrolysis (including capex) with grid only power at $5.16/kg May 31, up 14.7% on the month.
9.1.11 Metallurgy & mining sector news
Changes to the tax code recently proposed by the Russian Ministry of Finance and likely to be spearheaded through the State Duma to take effect in 2025 could cut profits of Russian steel companies by 6%-7%, according to Renaissance Capital. As followed by bne IntelliNews, upon his re-election Russian President Vladimir Putin promised a tax overhaul, including increasing the tax burden on people with higher incomes and closing corporate tax evasion loopholes. In what marks the first major tax hike in two decades, the Russian MinFin has proposed raising corporate income tax from 20% to 25%, while abolishing exchange rate export duties. MinFin also proposed to raise the MET (mineral extraction tax) on iron ore mining by 15% from the beginning of 2025 (currently the MET rate for iron ore is set at 4.8% of the prices for the raw material in China, so it will be 5.5% in case of the increase).
9.1.12 Transport sector news 9.1.13 Other sector news
159 RUSSIA Country Report July 2024 www.intellinews.com