The law on increasing the mineral extraction tax on diamonds and a number of other minerals from 2025 has been approved by the Federation Council of the Russian Federation.
In particular, the ad valorem mineral extraction tax rate for the extraction of diamonds and other precious and semi-precious metals has been increased from 8% to 8.4%.
The amendments provide for the introduction of a surcharge to the mineral extraction tax on gold in the amount of 10% of the excess of the world price above the level of $1,900 per troy ounce.
Alex Shishlo, Chief Editor of the European Bureau, Rough&Polished
