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Evaluation of the Oil Fiscal Regime in Russia and Proposals for Reform

Author

Listed:
  • Brenton Goldsworthy
  • Ms. Daria V Zakharova

Abstract

Oil revenue plays a central role in Russia's economic development. Thus, the recent decline in oil production and investment, and the possible contribution of the current fiscal regime to these developments, have prompted a reassessment of the oil tax system in Russia. Some important changes have already been made, while others are underway. This paper uses a simulation model to evaluate Russia's current oil fiscal regime. Based on these simulations, the paper proposes ways to make the fiscal regime more supportive of investment, while ensuring an appropriate share of oil sector profits for the government.

Suggested Citation

  • Brenton Goldsworthy & Ms. Daria V Zakharova, 2010. "Evaluation of the Oil Fiscal Regime in Russia and Proposals for Reform," IMF Working Papers 2010/033, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2010/033
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    1. repec:cmj:journl:y:2013:i:27:stoiana,becherescur is not listed on IDEAS
    2. repec:zbw:bofitp:2022_002 is not listed on IDEAS
    3. Webby Banda, 2019. "Economic analysis of Zambia’s ad valorem copper mineral royalty reforms using an analytic hierarchy process framework," Mineral Economics, Springer;Raw Materials Group (RMG);Luleå University of Technology, vol. 32(1), pages 1-18, April.
    4. Alexeev, Michael & Zakharov, Nikita, 2022. "Who profits from windfalls in oil tax revenue? Inequality, protests, and the role of corruption," Journal of Economic Behavior & Organization, Elsevier, vol. 197(C), pages 472-492.
    5. Andrei STOIAN & Radu BECHERESCU, 2013. "Financial Crises Of The Last Two Decades And The Issues To Be Addressed," SEA - Practical Application of Science, Romanian Foundation for Business Intelligence, Editorial Department, issue 1, pages 200-211, June.
    6. Alexeev, Michael & Zakharov, Nikita, 2022. "Who profits from windfalls in oil tax revenue? Inequality, protests, and the role of corruption," Journal of Economic Behavior & Organization, Elsevier, vol. 197(C), pages 472-492.
    7. Acquah-Andoh, Elijah & Ike, Onyekachi & Ifelebuegu, Augustine O. & Owusu, Andrews, 2020. "The fiscal regime for UK shale gas: Analysing the impacts of pad allowance on shale gas investments," Energy Policy, Elsevier, vol. 146(C).
    8. Fjaertoft, Daniel & Lunden, Lars Petter, 2015. "Russian petroleum tax policy – Continuous maneuvering in rocky waters," Energy Policy, Elsevier, vol. 87(C), pages 553-561.

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