Russian Expert Meeting on Upstream Oil and Gas Taxation

Background

On the request of the Ministry of Finance of the Russian Federation, the IEA and the International Tax Dialogue, with the financial support of the International Tax and Investment Center, invited experts from tax departments of Australia, Canada, Norway and the UK to share their experience in resource taxation with a focus on key changes in tax policy in each country, how these were administered and implemented and the industry consultation process. Expert level discussion was very timely given the focus of the Russian Ministry of Finance on conceptual changes to Russian oil and gas taxation for Greenfields and the outlook for a possible change in the longer term to more profit sensitive upstream oil and gas taxation.

Agenda (English) | Agenda (Russian)
Workshop Summary

Opening Remarks by Co-Chairs

Sergey Shatalov, State Secretary-Deputy Minister, RF Ministry of Finance
Alan CARTER, , Senior Tax Economist & Head of the International Tax Dialogue Secretariat, ITD
Roman TROSHKIN, Director on programs and Government Relations, International Tax and Investment Center (ITIC)

SESSION I

Trends and Outlook for Developments in International and Russian Oil and Gas Fiscal Regimes
Moderator: Sergey Shatalov, State Secretary-Deputy Minister, RF Ministry of Finance

Current Statute and Future Changes in Taxation of Oil and Gas Companies in Russia: agreed steps and remaining discussion points
Sergey SHATALOV, State Secretary-Deputy Minister, RF Ministry of Finance

IMF Evaluation on the Oil Fiscal Regime and Proposals for Reform | Watson russian version
Alistair WATSON, Technical Assistance Advisor, Tax Policy Division, Fiscal Affairs Department, IMF

The Norwegian Experience | Sollund russian version
Stig SOLLUND, Director-General, Deputy Head of Tax Law Department, Ministry of Finance, Norway

The UK Experience | Hodges russian version
Robert HODGES, Tax Director, Ernst & Young, United Kingdom

The Canadian Experience | Wen russian version
Jean-Francois WEN, Professor, University of Calgary, Canada, Senior Advisor, International Tax and Investment Center

The Australian Experience |
Steven TAYLOR, Tax Expert,  Department of Resources, Energy and Tourism, Australia

Balance of State and Investor Interests Taking into Account Optimization of Long Term State Government Revenues
Sergey VAKULENKO, Managing Director, IHSCERA

SESSION II

Taxation and Investment Promotion: specific issues and requirements for greenfields, brownfields, small and other marginal fields
Moderator:  Ilya Trunin, Director Department, RF Ministry of Finance

Overview of International Experience | Carter russian version
Alan CARTER, Senior Tax Economist & Head of the International Tax Dialogue Secretariat, ITD

The UK Case |
Robert HODGES, Tax Director, Ernst & Young, United Kingdom

|
Jean-Francois WEN, Professor, University of Calgary, Canada, Senior Advisor, International Tax and Investment Center

The Australian Case | Taylor Russian version
Steven TAYLOR, Tax Expert,  Department of Resources, Energy and Tourism, Australia

SESSION III

Projection of Oil and Gas Budget Revenues and Budget Stability
Moderator: Valentina BOYTSOVA, Deputy Director Department, RF Ministry of Finance

Medium Term Oil and Gas Market Outlook  
Vitaly BUSHUEV, Director, Institute of Energy Strategy, RF

  (Russian)
Igor PROKOPENKO, Acting Deputy Director Department, RF Ministry of Finance

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Alistair WATSON, Technical Assistance Advisor, Tax Policy Division, Fiscal Affairs Department, IMF

Norwegian Experience with Oil Funds |
Stig SOLLUND, Director-General, Deputy Head of Tax Law Department, Ministry of Finance, Norway

Panel Discussion: Experience in Development of Fiscal Regimes in a Predictable and Stable Way

Moderator: Mikhail KLUBNICHKIN, Oil and Gas Tax Expert

Brief Remarks:
Industry Representatives from Tax Working Group
Mikhail KLUBNICHKIN, Oil and Gas Tax Expert English/Russian version
Alexey KONDRASHOV, Partner, Ernst & Young

Co-Chairs:
Sergey Shatalov, State Secretary-Deputy Minister, RF Ministry of Finance
Svetlana ANDROUSHENKO, Deputy Head, Federal Tax Service, RF
Alan CARTER, Senior Tax Economist & Head of the International Tax Dialogue Secretariat, ITD

SESSION IV

International Experience in Oil and Gas Tax Administration
Moderator: Svetlana ANDROUSHENKO, Deputy Head, Federal Tax Service, RF

(Russian)
Svetlana ANDROUSHENKO, Deputy Head, Federal Tax Service, RF

UK Case | Hodges Russian Version
Robert HODGES, Tax Director, Ernst & Young

Canadian Case | Wen Russian Version
Jean-Francois WEN, Professor, University of Calgary, Canada, Senior Advisor, International Tax and Investment Center

|
Stig SOLLUND, Director-General, Deputy Head of Tax Law Department, Ministry of Finance, Norway

SESSION V 

Conclusions and Wrap up Panel

Moderator: Sergey Shatalov, State Secretary-Deputy Minister, RF Ministry of Finance
Set of Questions from Russian Ministries and Duma officials to be posed to the panel of international experts.

Closing Remarks:
Sergey Shatalov, State Secretary- Deputy Minister, RF Ministry of Finance
Alan CARTER, Senior Tax Economist & Head of the International Tax Dialogue Secretariat, ITD
Roman TROSHKIN, Director on programs and Government Relations, International Tax and Investment Center (ITIC)