Russia’s Natural Resources and Environment Ministry has suggested cutting the mineral extraction tax (MET) for rare metals to 4.8% from 8% in order to simulate production, the ministry said in a statement on November 13.
The ministry is now preparing an amendment to the Tax Code for submission to the government.
The amendment will also adjust the list of rare metals, which will comprise 34 elements, including lithium, cesium, beryllium, strontium, cadmium, scandium, indium, thallium, gallium, germanium, vanadium, niobium, tantalum, selenium, and tellurium. (Prime/Ukrainian metal)