Page 82 - RusRPTJan23

Gazprom will pay taxes in the amount of more than RUB5 trillion ($79.6bn) by the end of the current year, Karen Oganyan, head of the Gazprom department, said at the St. Petersburg tax forum. Oganyan noted that the company will provide one-fifth of St. Petersburg's tax revenues. Earlier, Deputy Chairman of the Board of Gazprom, Famil Sadygov estimated the volume of tax payments by the Gazprom Group for 2021 at about 3 trillion rubles ($47.8bn).
Russian budget revenues from the national oil and gas sector dropped by 2.1% y/y in November 2022 against the like period in 2021 to 866.4bn rubles ($13.8bn), the Finance Ministry said on Monday.
The decline in monthly terms was even stronger, by 32.4%, largely due to the additional income tax. This tax is normally collected once per quarter, right in October.
Federal budget revenues within eleven months of 2022 amounted to 10.66 trillion rubles ($170.3bn), compared to 8.2 trillion rubles ($131bn) one year earlier.
The budget received 599.3bn rubles ($9.6bn) from the export duty and the mineral extraction tax on oil and gas condensate up 3.7% against October 2022, the Finance Ministry said. The amount of such levies for gas dropped by 16.2% month-on-month to 454.6bn rubles ($7.2bn).
Analysts says every extra US dollar on Urals prices will bring $1.6bn in additional revenue to the Russian budget in 2023.
The Russian Ministry of Finance expects 176.1bn rubles ($2.81bn) of additional oil and gas revenues of the federal budget in December, the ministry said on December 5.
The Russian Finance Ministry spent RUB300bn ($5bn) from the National Welfare Fund (NWF) in November to finance the budget deficit, RBC business portal reported citing the ministry. FinMin sold euros, pounds sterling, and Japanese yen from the NWF held on the Central Bank of Russia (CBR) accounts to transfer RUB300bn to the federal budget.
In the same week Finance Minister Anton Siluanov revised the budget deficit forecast for 2022 to about 2% of GDP, up from previous September’s estimate of 0.9% of GDP or RUB1.3 trillion.
But Siluanov reiterated that despite the wider deficit the FinMin will minimise NWF spending by focusing on OFZ bond issuance instead. Indeed, FinMin has a RUB 1 trillion ceiling for tapping into the NWF fund, as per previous decree
82 RUSSIA Country Report January 2023 www.intellinews.com