Russia will increase its coking coal mining tax (MET) by at least 25% from January 2022, with possible major increase in tax rates.
Russia has formulated a formula to link the MET rate to global commodity prices, so the tax on coking coal will be different from the current flat tax rate and will depend on the exchange rate.
The Bundestag approved tax code changes in the third reading, including a change in the calculation of MET for various mineral resources.
The amended amendment is now awaiting approval from the Federation Council and then signed by the president.
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