Improving Russia’s Tax Policy in the Oil Production Taxation Field amid the World Economic Development

Abstract

The paper reviews pressing issues related to the corporate taxation in the oil industry amid the financial crisis, sanctions imposed against Russia, and low oil prices. Special attention is paid to the analysis of the first results of the tax reform, to the introduction of a profit-based tax. The purpose of the study is to find an effective tax mechanism for the taxation of the oil industry. The subject of the study is the current issues of oil taxation, in particular, the application of the taxation mechanism of the financial results of oil companies and the reform of the taxation system of export duties to the oil refining industry.