Bloomberg News

Russia May Cancel Tax Breaks for State Holdings, Izvestia Says

April 11, 2012

Russia may cancel 150 billion rubles ($5 billion) of tax breaks for state monopolies within five years, Izvestia reported today, citing unidentified official in Finance ministry.

OAO Gazprom (GAZP) may pay an additional 53.7 billion rubles of taxes to regional budgets should the plan be approved by the government, newspaper said. OAO Russian Railways (RZHD) will pay 56 billion rubles, it said. Among other companies which may pay additional taxes is OAO Transneft (TRNFP), Izvestia said.

To contact the reporter on this story: Yuliya Fedorinova in Moscow at

To contact the editor responsible for this story: John Viljoen at

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