MOSCOW, July 12Russian President Vladimir Putin signed a law providing, among other things, for increasing the mineral extraction tax on diamonds and some other minerals from 2025. The corresponding document is posted on the website of the official publication of legal acts.
The law makes changes to the Tax Code in order to improve the tax system of the Russian Federation. Including the ad valorem mineral extraction tax rate for the extraction of diamonds and other precious and semi-precious stones increases from 8% to 8.4%, and the mineral extraction tax for iron ore — from 4.8% to 6.7%. At the same time, a premium to the mineral extraction tax on gold is introduced in the amount of 10% of the excess of the world price above the level of $1,900 per troy ounce. 
At the same time, an additional surcharge to the mineral extraction tax rate is introduced for coking and thermal coal if prices in the seaports of the Far Eastern Federal District, North-West and South of Russia exceed the established threshold value (for thermal coal — $120 per ton, for coking coal — $167 ).
At the same time, the mineral extraction tax for energy coal will not increase in relation to supplies that go to the domestic market, explained Deputy Head of the Ministry of Finance of the Russian Federation Alexey Sazanov. And for anthracite, a rental coefficient is introduced to the mineral extraction tax in the event that the average price for it in the ports of the Russian Federation exceeds $135 per ton.
According to the proposal of business, for new projects in the Krasnoyarsk Territory for the development of “poor” ores, a fixed value of the mineral extraction tax will not be applied: the rate of this tax will be calculated as 6% of the market prices of the “basket” of the corresponding metals, Sazanov also said. We are talking about a multicomponent complex ore containing copper, nickel and platinum group metals, mined in subsoil areas with a degree of reserve depletion of less than 1% at the beginning of 2024. At the same time, the copper content in such ore should not exceed 0.5%, and nickel — 0.35%. 
The calculation of mineral extraction tax for the extraction of phosphorus ores and potassium salts is also changing. Now a formula will be applied using coefficients tied to export quotes for potassium at FOB Baltic and Black Sea, and phosphates at FOB Morocco, and taking into account the content of potassium chloride and phosphorus oxide in the ore. At the same time, a surcharge to the mineral extraction tax is introduced if the price of potassium exceeds $300 per ton, and phosphates — $200.
And for the introduced excise tax on gas purchased for the production of ammonia, instead of a fixed rate (2,400 rubles per thousand cubic meters), a formula was introduced, tied to the export price of urea in the Baltic. The value obtained by the formula will be multiplied by the rate of 6.5%. If the price of gas exceeds $300 per ton, then the mineral extraction tax will be taken from this excess at a rate of 12%.
The law, which contains other changes, comes into force on the date of official publication, with the exception of provisions for which other deadlines are established.