At today meeting Federation Coucil passed a chapter "Tax on Mining Operations" of the second part of Tax Code as well as a number of amendments to by-laws and laws. Under the law there will be a single tax for mining operations instead of excise, royalty or compensation for mineral and raw base. Tax rate for ferrous metals is 4.8%, for coal - 4%, precious metals (excl. gold) - 6.5%, gold - 6%, natural diamonds, gemstones and semiprecious coloured stones, precious metals - 8%, natural gas and gas condensate - 16.5%. The same rate will be applied for oil since 2005.

Export duties for other goods and raw types will be set in autumn on the second reading of "Tax Duties" draft.